Shares of Alibaba Group Holding Ltd. opened for trading on Friday on the New York Stock Exchange (NYSE) with the ticker NYSE:BABA, after its initial public offering (IPO) on the New York Stock Exchange's (NYSE) trading floor. The shares of the company opened on Friday at $92.70 which was about 36% above the IPO price of $68.
The Chinese company placed the largest ever US IPO, with $50.6 billion in total proceeds. Its value represented 57% of all technology company IPOs in the US this year and it has caused quite a stir among investors.
48.09 million shares crossed at the opening at 11:53 ET with a total of 270 million shares changing hands on Friday's trading.
Forex Magnates' reporters reached out to one of the leading brokerages which offers shares, CFDs and stock optionstrading to its clients - Danish Saxo Bank, to ascertain the interest of retail investors in such a widely media covered IPO.
In a statement to Forex Magnates, Saxo Bank’s Head of Markets, Claus Nielsen, shared, “Due to our multi- asset offering, we've been very active in recent IPOs; from Twitter, GOPRO, King Digital (Candy Crush), Bravofly, now to Alibaba.”
He elaborated on the strategies which Saxo used to inform its clients about the opportunities surrounding the biggest IPO in the history of the US market, sharing, “Our equity research team started to highlight the potential in Alibaba early on, getting our clients familiar with the company via Saxo TV and a good amount of research and analysis published on Saxo’s TradingFloor.comportal.”
“The activity in Alibaba from our clients and new clients signing up has clearly exceeded all our expectations. We had more than 2,000 trades going through our books Friday (as cash stocks and CFDs). We are planning to add Alibaba as a stock option next week,” Mr Nielsen said.
Judging from the trading activity which we saw on Friday and today, when the company's shares dropped about 4%, it looked like we had another addition to the swing traders' favorites, or so called "momo" stocks (momentum plays).
Mr. Nielsen concluded, “Saxo Bank expects Alibaba soon to be in our top 10 most traded stocks/CFDs together with Apple, Facebook, Netflix, Google, Tesla, Yahoo etc.”
While the interest in trading massive IPOs is big, there is an important aspect to really awaken the interest of traders to such companies. Information is key to provide the new offering as a real trading opportunity.
The chart that follows, courtesy of Stephan Cheplick from StockTwits, reveals a worrying trend though.
The current state of the US stock market is quite different from what it was a couple of years ago. It has now been relentlessly rallying for more than five years. With the clouds of the FED's tapering effort starting to hang over the heads of traders, are we going to see another record breaking IPO mark a top in the US equity market (as usually is the case)?
Shares of Alibaba Group Holding Ltd. opened for trading on Friday on the New York Stock Exchange (NYSE) with the ticker NYSE:BABA, after its initial public offering (IPO) on the New York Stock Exchange's (NYSE) trading floor. The shares of the company opened on Friday at $92.70 which was about 36% above the IPO price of $68.
The Chinese company placed the largest ever US IPO, with $50.6 billion in total proceeds. Its value represented 57% of all technology company IPOs in the US this year and it has caused quite a stir among investors.
48.09 million shares crossed at the opening at 11:53 ET with a total of 270 million shares changing hands on Friday's trading.
Forex Magnates' reporters reached out to one of the leading brokerages which offers shares, CFDs and stock optionstrading to its clients - Danish Saxo Bank, to ascertain the interest of retail investors in such a widely media covered IPO.
In a statement to Forex Magnates, Saxo Bank’s Head of Markets, Claus Nielsen, shared, “Due to our multi- asset offering, we've been very active in recent IPOs; from Twitter, GOPRO, King Digital (Candy Crush), Bravofly, now to Alibaba.”
He elaborated on the strategies which Saxo used to inform its clients about the opportunities surrounding the biggest IPO in the history of the US market, sharing, “Our equity research team started to highlight the potential in Alibaba early on, getting our clients familiar with the company via Saxo TV and a good amount of research and analysis published on Saxo’s TradingFloor.comportal.”
“The activity in Alibaba from our clients and new clients signing up has clearly exceeded all our expectations. We had more than 2,000 trades going through our books Friday (as cash stocks and CFDs). We are planning to add Alibaba as a stock option next week,” Mr Nielsen said.
Judging from the trading activity which we saw on Friday and today, when the company's shares dropped about 4%, it looked like we had another addition to the swing traders' favorites, or so called "momo" stocks (momentum plays).
Mr. Nielsen concluded, “Saxo Bank expects Alibaba soon to be in our top 10 most traded stocks/CFDs together with Apple, Facebook, Netflix, Google, Tesla, Yahoo etc.”
While the interest in trading massive IPOs is big, there is an important aspect to really awaken the interest of traders to such companies. Information is key to provide the new offering as a real trading opportunity.
The chart that follows, courtesy of Stephan Cheplick from StockTwits, reveals a worrying trend though.
The current state of the US stock market is quite different from what it was a couple of years ago. It has now been relentlessly rallying for more than five years. With the clouds of the FED's tapering effort starting to hang over the heads of traders, are we going to see another record breaking IPO mark a top in the US equity market (as usually is the case)?
Cheetah Fund Investors Lose $9 Million in Alleged Fraudulent Scheme
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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