Alibaba Group Holding Ltd (BABA)

[ThePennyDoctor]

This article sums it up pretty good:

"The vast majority of shares in a hot IPO such as Alibaba are sold to well-placed institutional investors prior to when the shares debut on a public stock exchange. Only a small portion of those shares are generally set aside for retail investors [this is the immaterial lot I was referring to used by brokers to do a favour for preferred clients - I have some wealthy friends who are fellow lawyers - they are not ihubbers and would not lie about being offered shares at the IPO price]. If the Alibaba shares price as expected at $68, the high end of their price range, that’s what all those well-placed institutional investors and the handful of lucky retail investors will pay for their shares."

http://www.foxbusiness.com/economy-policy/2014/09/18/alibaba-ipo-poses-more-than-usual-risks-to-retail-investors/