Alibaba Group Holding Ltd. is offering $1.5 billion to acquire Chinese grocery delivery firm Pupu, initiating a bidding war as part of a broader campaign to wrest market share from Meituan in online commerce.

University of Florida finance professor Jay Ritter, who runs the school’s IPO Initiative and is widely regarded as the dean of IPO research, told CNBC on June 11, 2026, that SpaceX’s pending offering will set a first-day underpricing record that dwarfs prior benchmarks held by Visa and Alibaba.

This article first appeared on GuruFocus. Alibaba Group (NYSE:BABA) and JD.com (NASDAQ:JD) saw their Hong Kong-listed shares come under fresh pressure after China's market watchdog reprimanded major e-commerce platforms over what it described as misleading sales promotions.

Shares of Alibaba Group Holding Ltd. and JD.com Inc. slid in Hong Kong after China’s market watchdog reprimanded top Chinese e-commerce players for what it said were misleading sales promotions.

The Chinese company said the Zhenwu M890 delivers three times the performance of its predecessor.