Sales surge 60% to $14.3 billion
The sales at Alibaba's Singles Day shopping extravaganza surged 60% to 14.3 billion vs a year ago. Admittedly, the surge was helped by other entities contributing to the total figures but it still is a nice chunk of change.
Investors were less excited, however, as the price of BABA shares are down $1.75 on the day to $79.63.
The stock of Alibaba was priced at $68 per share on September 18, 2014. The opening day price traded as high as $99.70. The high price since the IPO came in at 120.00 on November 13, 2014. Since then, the stock was on a steady decline lower.
The low was reached at 57.20 on September 29, 2015. The stock price is up 39% since then.
