Alibaba Stock – Alibaba Group Holding Ltd. ADR outperforms market on strong trading day
The Alibaba Group Holding Ltd. ADR
inched 0.79% higher to $236.27 Wednesday, on what proved to be an all-around dismal trading session for the stock market, with the NASDAQ Composite Index
falling 2.70% to 12,997.75 and Dow Jones Industrial Average
falling 0.39% to 31,270.09. Alibaba Group Holding Ltd. ADR closed $83.05 short of its 52-week high ($319.32), which the company achieved on October 27th.
The ADR outperformed some of its competitors Wednesday, as Amazon.com Inc.
fell 2.89% to $3,005.00, eBay Inc.
fell 4.19% to $54.60, and Rakuten Inc. ADR
fell 2.68% to $10.52. Trading volume (13.5 M) remained 11.0 million below its 50-day average volume of 24.5 M.