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ALIBABA $100

Myles UdlandOct 28, 2014, 20:01 IST

Alibaba shares have broken $100.

In morning trade on Tuesday, shares of the Chinese e-commerce giant, which debuted on the New York Stock Exchange on Sept. 19, crossed the $100 mark for the first time.

At this price, the company has a market cap of more than $250 billion, with the stock rising more than 35% from its IPO price of $68.

Alibaba is scheduled to release its first quarterly report as a public company next Tuesday before the market open.