Updated from 2:16 p.m. with closing price information.
The Chinese e-commerce company had the largest IPO in U.S. history at $21.8 billion and began trading just before noon. Yahoo! and other shareholders sold 320.1 million shares for $68 apiece in a sale that values Alibaba at $167.6 billion.
The IPO could break the worldwide record set by Agricultural Bank of China at $22 billion in 2010 if underwriters issue more shares.
More than 230 million shares of Yahoo! had changed hands as of 2:14 p.m., which eclipsed the average volume of 24,497,500.
Separately, TheStreet Ratings team rates YAHOO INC as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate YAHOO INC (YHOO) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, solid stock price performance, good cash flow from operations, expanding profit margins and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income."