Jim Cramer on Alibaba Naysayers: Fundamentals Do Matter

Alibaba is preparing to debut on the NYSE Friday morning. The IPO is set to be the largest ever with more than $20 billion of stock for sale. While there are a lot of objections for buying Alibaba stock, Jim Cramer says they're mostly bogus reasons. He says don't worry about it being too expensive because if it opens at $80 it's still cheaper than most other Internet companies. If you're worried about its convoluted ownership, Cramer says there are plenty of media companies with convoluted ownership. The bottom line, Cramer says, is that fundamentals do matter. He adds that the market will receive Alibaba poorly if it goes north of $100. But at $80, it's still a bargain.