Alibaba Jumps More Than 4%, Reclaims IPO Price

Alibaba Group Holding Ltd. rebounded along with a host of other tech stocks Tuesday morning, moving its shares back above the price commanded in its record-breaking initial public offering. The Chinese e-commerce giant opened with a 5.4% jump at $68.84 Tuesday, a day after it fell below the $68 IPO price for the first time. Alibaba Chief Executive Daniel Zhang asked employees to be calm about the declining share price in a letter earlier Tuesday, writing, "Do not let the fog cloud your vision; broaden your horizons to see the bigger picture."