What's up with the flurry of activity around Alibaba?
Wall Street is expecting the hotly awaited initial public offering (IPO) either the week of September 15th, or the week of the 22nd. Market watchers expect the giant's IPO to net as much as $20 billion.
One problem that keeps stoking confusion in the market: they keep updating their filings. On Wednesday, the company released what was at least their third update in as many months. In their latest adjustment to their S-1 filing, they changed their recent revenue figures...revenues for the three months ended June 2013 to June 2014 increased 46 percent to more than $2.5 billion.
Another issue: they keep buying things. Recently, they have taken a stake in a Chinese soccer team (Guangzhou Evergrande), a department store (Intime Retail), a mapping service (AutoNavi) and a 30 percent stake in microblogging site Weibo.