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The Alibaba Group Holding Ltd. (NYSE: BABA) stock price will be announced this evening, and company officials have previously set a price range of $66 to $68 for Alibaba stock's offer price.
As with all IPOs, the BABA stock price may be volatile when it first hits the market.
According to Money Morning's Chief Investment Strategist Keith Fitz-Gerald, "we could see anything on that first day of trading ranging from a 5% decline to a 30% increase. The former is a possibility, but I think there's so much demand for shares that a 30% pop in price may prove conservative when the closing bell clangs Friday afternoon."