Fund Managers Look To Make Room For Alibaba
Investors are looking over portfolios to make room for Chinese e-commerce giant Alibaba Group’s market debut next month – and that means some less attractive stocks that funds are holding might be shown the door. The initial public offering, which could top $16 billion to become the largest-ever IPO by a technology company, is expected as early as next month after Alibaba management kicks off a two-week investor road show after the Labor Day weekend. As investors take a hard look at their portfolios, it may trigger a veritable garage sale of names that are failing to impress Wall Street, including U.S. e-commerce rival Amazon.
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