For all those investors who asked ‘Ali who?’ about two days, the answer will have sunk in by now that it is a Chinese e-commerce company which boasted of the biggest IPO in American history on 19th September, 2014. Alibaba Group Holding Limited (NYSE:BABA) raised a whopping $21.8 billion that left even world renowned names like Facebook, Amazon and Ebay far behind and now the big question hovering in everyone’s mind is where does the company go from here?
Given the vision of its founder, Jack Ma, Alibaba Group Holding Limited (NYSE:BABA) will most likely spread its wings in Europe and America not to mention consolidate it’s already dominant position in China. Jim Crammer had plenty of good things to say about Jack Ma, the foremost amongst which were his grounded nature and utmost humility. Another point that bowled people the world over was Jack’s inspiration – a fictional character named Forrest Gump played by Tom Hanks in a Hollywood flick. Having watched the movie multiple times, this is what Jack had to say about it –
“Every time I’m frustrated, I watch the movie. I watched the movie again before I came here. It’s telling me: ‘No matter what changes, you are you.’”
On his part, Jim Crammer likened him to the Chinese version of Henry Ford wherein it appeared to be Jack’s intention of enabling everyone to grow rich by realizing their individual potentials with Alibaba Group Holding Limited (NYSE:BABA) serving as his vehicle.
All of this heralds good going for the company at least in the near future, meaning those investors who already own shares of Alibaba Group Holding Limited (NYSE:BABA) stand to earn a substantial amount if they sell their shares in the week following the IPO. Investors who might have missed the bus could keep a look-out for making an entry when the stock stabilizes at $80 levels which, as per Mr. Crammer, may not be very distant in future.
The good news for shareholders is that Jack Ma who once followed a customers-employees-shareholders hierarchy has now softened his stand a bit as is indicated by this statement of his on CNBC –
“I am very honoured and so excited … the responsibility I’ve been thinking about the next five to 10 years is: how can I make sure these shareholders are happy?”
This article has been written by Vinita Basu.