Baba Stock – Alibaba Group Holding Ltd. ADR falls Monday, underperforms market
The Alibaba Group Holding Ltd. ADR
slid 2.57% to $219.53 Monday, on what proved to be an all-around dismal trading session for the stock market, with the NASDAQ Composite Index
falling 2.55% to 13,401.86 and Dow Jones Industrial Average
falling 0.10% to 34,742.82. This was the ADR’s eighth consecutive day of losses. Alibaba Group Holding Ltd. ADR closed $99.79 short of its 52-week high ($319.32), which the company reached on October 27th.
The ADR demonstrated a mixed performance when compared to some of its competitors Monday, as Amazon.com Inc.
fell 3.07% to $3,190.49, eBay Inc.
rose 2.78% to $61.44, and Rakuten Group Inc. ADR
fell 0.74% to $12.13. Trading volume (17.1 M) eclipsed its 50-day average volume of 15.3 M.