Dang! Shares of Dang Dang Flying

E-COMMERCE CHINA DANGDANG INC. DANG are now over $28 per share, after having priced at $16 per share. Dang is seen as the Amazon AMZN of China, so investors are scooping this up hand over fist right now. Dangdang is the the No. 1 business-to-consumer company in China, and has had a similar start to Amazon. It started off selling books, then moved to other products. The money from the IPO will be used for general corporate purposes. The company is 11 years old and earned $4.9 million in it latest quarter, up from $1.2 million in 2009.