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As Alibaba Prepares For IPO, Tech Stocks Retreat

wochit business
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May 08, 2014 AT 8:51 AM
As e-commerce giant Alibaba gets ready for a blockbuster stock sale in the next few months, technology shares are retreating. For two years, investors bid up biotechnology and internet companies, enticed by their strong growth prospects in an otherwise weak U.S. recovery. It's not an optimal time to pitch tech. Internet companies, whose market values ballooned in 2013 amid high hopes, have pulled back in 2014 as investors reassess their prospects.