Baba Stock – Alibaba Group Holding Ltd. ADR outperforms market despite losses on the day
The Alibaba Group Holding Ltd. ADR
slipped 1.22% to $227.90 Tuesday, on what proved to be an all-around mixed trading session for the stock market, with the Dow Jones Industrial Average
rising 0.06% to 34,133.03 and the NASDAQ Composite Index
falling 1.88% to 13,633.50. This was the ADR’s fourth consecutive day of losses. Alibaba Group Holding Ltd. ADR closed $91.42 below its 52-week high ($319.32), which the company achieved on October 27th.
The ADR demonstrated a mixed performance when compared to some of its competitors Tuesday, as Amazon.com Inc.
fell 2.20% to $3,311.87, eBay Inc.
fell 0.79% to $57.69, and Rakuten Group Inc. ADR
fell 0.55% to $12.65. Trading volume (13.2 M) remained 2.5 million below its 50-day average volume of 15.6 M.