Baba Stock – Alibaba Group Holding Ltd. ADR falls Wednesday, underperforms market
The Alibaba Group Holding Ltd. ADR
slumped 0.49% to $226.78 Wednesday, on what proved to be an all-around mixed trading session for the stock market, with the Dow Jones Industrial Average
rising 0.29% to 34,230.34 and the NASDAQ Composite Index
falling 0.37% to 13,582.42. This was the ADR’s fifth consecutive day of losses. Alibaba Group Holding Ltd. ADR closed $92.54 below 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 Wednesday, as Amazon.com Inc.
fell 1.25% to $3,270.54, eBay Inc.
rose 0.95% to $58.24, and Rakuten Group Inc. ADR
rose 0.40% to $12.70. Trading volume (7.2 M) remained 8.4 million below its 50-day average volume of 15.6 M.