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19 Sep, 2014

‘Selling other tech stocks’

Alibaba0 Comments

UBS trader Jeffrey Yu says investors are selling some other large-cap tech stocks to make room for ‘crazy busy’ trading in Alibaba. He says this is why Amazon is off 0.8% for the week despite gaining 1.1% intraday and why Alibaba part-owner Yahoo is down 5% after a run-up earlier in the week. The broader Nasdaq Composite is down 0.6%.

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