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After early spike, Alibaba briefly dips below opening price

Alibaba Group signage at the New York Stock Exchange during IPO, September 19, 2014.
Adam Jeffery | CNBC
Alibaba Group signage at the New York Stock Exchange during IPO, September 19, 2014.

Alibaba shares on Friday dipped below their opening price of $92.70 after initially spiking nearly 40 percent in its market debut.

The Alibaba initial public offering is the biggest in history.

See where Alibaba is trading now.

More than 100 million shares were traded within the first 10 minutes of Alibaba's market debut.

The Chinese online retailer raised almost $22 billion in an initial public offering that will make the Chinese e-commerce brand one of the most valuable companies in the world.

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