DJ Alibaba IPO Makes for ‘Crazy Busy’ Trading — Market Talk
13:08 EDT – Equity trading at UBS is "crazy busy" because of Alibaba’s ( BABA) IPO, says Jeffrey Yu, head of single-stock derivatives trading–though the options on the stock aren’t trading yet. He notes investors are selling part-owner Yahoo (YHOO) as a result; it’s down 5% today following its recent run-up ahead of the IPO. Some of the investors buying BABA have been selling other large-cap tech stocks in recent sessions to make room, adds Yu. Amazon ( AMZN) is off 0.8% this week even with today’s 1.1% gain.
