It’s been just over a year since Alibaba debuted on the NYSE with a 38% gain, becoming the largest IPO Wall Street had ever seen.
Wall Street was enamored with China’s Amazon.
By November last year it had reached almost $US 120 a share, nearly double its $US68 IPO price.
After some scandals including allegations of fraud, and Chinese economic woes, Alibaba has been losing ground ever since.
With a 3% drop to $US 57.41 today, Alibaba has lost more than half of its value from November last year, and well below its $US68 IPO pricing.
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