Alibaba Opens Below IPO Price, At All-time Low

Alibaba Group Holding LTD. fell below its initial public offering price for the first time Monday, in a trying time on Wall Street. The Chinese e-commerce giant, which set records for valuation and money raised in its September 2014 IPO, commanded $68 for its initial batch of shares, and closed at an all-time low of $68.18 Friday. In yet another plunge at the open of trading Monday morning, Alibaba shares fell as low as $58, less than half the company's high of $120.