By Jessica Toonkel NEW YORK (Reuters) - As Alibaba was preparing to sell shares to U.S. investors for the first time, Jerry Verseput tried to persuade his clients not to throw money at the giant China-based e-commerce company because he thinks IPOs are a gamble, especially those with a lot of hype. For the two clients that insisted on buying stock, Verseput made sure they only invested less than one percent of their assets in the IPO. Alibaba opened on Sept. 19 at $92.70, ended its first day at $93.89 and reached its peak on November 13, when it hit $120. Alibaba, which already commands 80 percent of the Chinese market and handles more ecommerce than Amazon and eBay combined, trades at a price-to-earnings ratio of about 30, compared with Seattle-based Amazon, which sports a three-digit P/E. On Wednesday, a lock-up period expires allowing insiders owning a total of 437 million Alibaba shares sell.
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