Alibaba's Stock Bounces Around On Heavy Volume As Lockup Expires

Alibaba Group Holding's stock has been seesawing in heavy trade early Wednesday, as traders brace for the nearly 340 million shares that have become available for sale. The stock was recently down 0.2%, but has already been up as much as 1.7% and down as much as 0.9% in the first 40 minutes of trading. Volume reached 13.8 million shares, which is more than 90% of the full-day average of 15.1 million shares. The shares have become available for sale as lockup agreements that were put in place in the Chinese e-commerce giant's initial public offering in September expire.