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Its stock price rose 38% on the first trading day, giving it a market cap of $231 billion. Last October, Alibaba's share price hit a record high of $319 and its market cap approached $850 billion.

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Nasdaq Russell 2000 -4.82(-0.24%) Crude Oil (-0.31%) Gold (+0.39%) Rumble Inc. (RUM) NasdaqGM - NasdaqGM Real Time Price. Currency in USD Follow 2W 10W 9M 6.50 +1.61 (+32.92%) At close: 04:00PM EST...

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The big change recently, and the reason the stock has dipped back down to a more normal-sounding valuation, a place where it rarely resides, is that the company issued shockingly weak guidance last week in their earnings report — they still think 2023 will end up being a 20-30% growth year in revenue, but that 2024 will be flat, thanks to a ...

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