Alimama, that's Ali that's going on

Thanks to the South China Morning Post for answering yesterday's question about what spooked the Alibaba share price up almost 10%. No thanks to the Kuoks for keeping it behind the paywall.

It seems that the market got itself all excited over the official launch of the Alimama ad network (we first wrote about that back in August). It is part of Alibaba Group, not the Alibaba.com B2B division which is listed.

That, however, is not stopping the Hong Kong analyst community working itself up into a froth over the possibility that Alibaba might inject Alimama into the listed company, something which spokesman Porter Erisman outright denies. Denials clearly didn't cut any ice with the boys in the finance houses who see their year-end bonuses shriveling with the markets and are keen to pour something inflammable on the dying embers.

Now hear this for silliness: JP Morgan's Dick Wei suggests that "It's possible, especially when Alibaba's share price is weak...". Is WHAT? I hope he's referring to the theoretical possibility that it might be weak in the future. If he thinks its weak now, I simply despair.

Update: Free for all is the Standard's version of this story which explains the 'cute' Babas and Mamas play on words as well as suggesting that investors weren't really aware that this was outside the listed Alibaba.com company.