After garnering an immense amount of media attention for its IPO two months ago, Alibaba Group Holding Ltd (NYSE: BABA) is attempting to live up to the hype. The stock has posted an impressive rally over the last two weeks, gaining 16 percent.
The Chinese Internet retail company went public September 19, opening at $92.70, a whopping 36 percent above the IPO price of $68 per share.
Alibaba doesn't actually carry inventory or create products; they are an e-commerce platform that allows people to sell products through its website. The easiest way to picture it is as a hybrid of Google Inc and Amazon.com, Inc.
For fiscal year 2013, Alibaba supported $240 billion in sales through its e-commerce sites, which is more than Amazon and eBay Inc combined. This is a massive company that has gained a great deal of momentum through U.S. capital markets, and will likely continue to draw support as long as ...
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