Alibaba Stock – Alibaba Group Holding Ltd. ADR outperforms market despite losses on the day
The Alibaba Group Holding Ltd. ADR
slumped 0.49% to $252.75 Tuesday, on what proved to be an all-around mixed trading session for the stock market, with the Dow Jones Industrial Average
rising 0.05% to 31,537.35 and the NASDAQ Composite Index
falling 0.50% to 13,465.20. This was the ADR’s fourth consecutive day of losses. Alibaba Group Holding Ltd. ADR closed $66.57 below its 52-week high ($319.32), which the company reached on October 27th.
The ADR underperformed when compared to some of its competitors Tuesday, as Amazon.com Inc.
rose 0.43% to $3,194.50, eBay Inc.
fell 0.31% to $61.37, and Rakuten Inc. ADR
rose 0.19% to $10.78. Trading volume (15.8 M) remained 8.5 million below its 50-day average volume of 24.3 M.