Alibaba Group had a huge debut with its shares beginning to trade at $92.70, up over 36% from its IPO price of $68. That increase on the New York Stock Exchange raised the company’s total market value from $168 billion to over $220 billion. Alibaba had raised $21.8 billion in its hotly anticipated IPO, the largest in US history, dwarfing Facebook Inc’s IPO.
The price of bitcoin has fallen from its $513 price of one month ago to as low as $381.17 on Friday. This week alone the crypto-asset fell from $513 to $381.
Alibaba’s US IPO May Have Crashed the Bitcoin Pricevia @CryptoCoinsNews
– Richard Hobbs (@KenmalBusiness) September 19, 2014
This post was published at GoldSilverBitcoin on 22 SEP , 2014.
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