- As of Wednesday afternoon, Alibaba’s stock in Hong Kong traded more than 3.5% higher.
- That added to Tuesday’s first day 6.6% surge, putting the stock on track to see more than 10% gains from its initial listing price of 176 Hong Kong dollars (approx. $22.48) per share.
Hong Kong-listed shares of Chinese tech giant Alibaba saw yet another stellar trading day following a blockbuster Tuesday listing in the city.
“Investors are jumping all over it in Hong Kong,” James Gerrish, portfolio manager at Shaw and Partners, told CNBC’s “Capital Connection” on Wednesday.
Alibaba’s secondary listing in Hong Kong became the world’s largest offering so far in 2019 .
Gerrish said that the firm has “got such a strong runway for growth” in the coming years.
Alibaba shares in U.S. (NASDAQ: BABA) up +$4.25 or 2.23%, expect another positive in U.S. for BABA.