Alibaba Could Raise High End of IPO Price to $70 and Still Climb

Alibaba reportedly plans to boost the price of its upcoming initial public offering due to strong investor demand. The Chinese e-commerce company plans to raise the top end of its price range to just below $70 from $66, according to reports. The announcement of the price hike is expected to come Monday after the market closes in New York. Jim Cramer weighs in on the IPO, which he believes will be a good deal. Cramer says not only can Alibaba certainly be priced at $70, but it will likely pop to as much as $75 afterwards. If that's the case, he says Yahoo! is still going to be undervalued at $43.