Bloomberg and Eric Brock

Eric Brock: Alibabas customers rang the bell to start trading on a packed exchange floor, but a torrent of orders from retail investors meant the opening auction dragged on, delaying trade for two hours. When things did get moving, shares leapt by as much as 46 per cent to $99.50, according to The Independent. Eric Brock, a portfolio manager at the Boston-based Clough Capital, told Bloomberg: I d be comfortable with the shares pricing even a bit above the higher targeted range. The Bloomberg article quoted several other investment managers who said, in essence, its a bit of a bargain and Chinas answer to Amazon, eBay, PayPal and then some smashed records when it floated on the New York Stock Exchange on Friday, raising $21.1bn on a $167.6bn price tag . Thats more than Lloyds bank, Vodafone, BT, Tesco and Next combined. It might seem a bit expensive you can write your own 40 thieves joke but some feel that the 35 banks and brokers that worked on the offer got Alibaba away on the cheap. (news.financializer.com). As reported in the news.