NYSE’s Scott Cutler now says current indications show that Alibaba Group Holdings Ltd (NYSE:BABA) will open between $92 and $93. These indications have been creeping up over the last couple of hours from first $80-83, then $84-87, and then $86-$88, and then $87-$89, then $91-$92, and now to $92-$93. He also indicated that they are getting closer but they aren’t there yet. It wouldn’t be too much of a stretch to predict that Alibaba Group Holdings Ltd (NYSE:BABA) will open at $93.
We also know that they wouldn’t want Alibaba Group Holdings Ltd (NYSE:BABA) shares decline after the open, so they will try to set the price at a point where there are still tons of buyers out there. This tells us that Alibaba Group Holdings Ltd (NYSE:BABA) shares will probably close above $100 at 4 pm today.
Scott Cutler predicts that Alibaba Group Holdings Ltd (NYSE:BABA) shares will start trading at around 11:35-11:40.
Disclosure: no positions
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