Alibaba closes up 38% on first day of trading

Alibaba shares fluctuated in volatile trading, briefly dipping below the opening price of $92.70 after initially spiking nearly 50 percent in its market debut.

See where Alibaba is trading now.

More than 127 million shares were traded within the first 15 minutes of Alibaba's market debut. The stock started to trade shortly before noon ET.

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