On Wednesday afternoon, Money Morning Capital Wave Strategist Shah Gilani appeared on FOX Business' "Varney & Co." to tell viewers why he loves Alibaba stock.
Alibaba Group Holding Ltd. is expected to raise between $21.1 billion and $24.3 billion in its initial public offering (IPO) on Thursday. That'll make the Alibaba IPO the largest since Facebook Inc.'s (Nasdaq: FB) $16 billion 2012 IPO. Alibaba stock is expected to begin trading Friday on the New York Stock Exchange under the ticker "BABA."
Watch the video to see why Gilani - who's "generally not an IPO guy" - will be one of the investors buying Alibaba stock on its opening: