Waiting for the market maker to square his book up - with the flood of orders taht may take time. BBG report says they are in no hurry to open this issue. Could be in 10mins or 2 hrs. Take your pick. Trading is waiting.
Perhaps the longer it takes is indicative of the number of orders looking to get filled? My guess this will sink like a stone at the open. Im usually wrong so expect a rally
The price indicated as Close for BABA is indicative of the opening range. The BABA IPO price was $68. - IB (thanks for the info - a bit late)
now $88-$90 is the estimate. Someone tweeted a marketable limit for a bag of shares at $199 - some Dennis Dick?? Gotta love the hype.
I got stung on FB, thinking I was clever buying at $30, only for it to fall to 19. Not about to play roulette here, certainly not day 1.
Im just looking at is a day day trade opportunity. I dont really 'trade' stocks, futures are my thing, but I have some spare bullets in an account at lightspeed so thought Id see if anythings doing..... if it ever opens.....