Investors and traders are bracing for a potentially epic sell-off of Alibaba shares, with 429 million shares, or 18% of the company, eligible to hit the market on March 18. This marks the six-month expiry of lockups for select institutional investors from the company’s $25.03 billion jumbo initial public offering of September 18, 2014.
According to sources, a number of these investors are keen to sell and make a profit. Although it is unlikely they will all sell at once, the prospect is already weighing on the stock price.
Pre-IPO investors purchased shares at $68 per unit. Shares spiked to just under $100 a unit before closing...
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