Read MoreAlibaba looks to build big cash stash for buyouts
The size of the IPO, which is expected to raise more than $20 billion, might prevent Alibaba stock from seeing a big increase right away, said Kathleen Smith of Renaissance Capital.
Smith, who manages the company's IPO exchange-traded fund, said, "Our studies show that the very large IPOs don't necessarily have those large pops. …
"I think this deal, because it's so enormous, will take some time to get into portfolios and into indices. And so, we wouldn't be expecting a huge jump up after the pricing."
Among the "Halftime Report" traders, OptionMonster's Pete Najarian said that he was bullish on the IPO.
Read More As Alibaba readies for IPO, Jim Cramer offers caution
"I would be a buyer of Alibaba," he said.
Najarian said that he owns shares of Yahoo and plans to sell about half his holdings after the Alibaba IPO.
TheStreet CIO Stephanie Link said that she could see why someone would buy into the IPO.
"I think for what you're getting, you can make a case to own it right from the beginning, as long as they don't beef up the price," she said.
Read More Alibaba who? US investors not that interested