Alibaba Stock – Alibaba Group Holding Ltd. ADR underperforms Thursday when compared to competitors
The Alibaba Group Holding Ltd. ADR
shed 4.06% to $240.18 Thursday, on what proved to be an all-around dismal trading session for the stock market, with the NASDAQ Composite Index
falling 3.52% to 13,119.43 and Dow Jones Industrial Average
falling 1.75% to 31,402.01. This was the ADR’s sixth consecutive day of losses. Alibaba Group Holding Ltd. ADR closed $79.14 short of its 52-week high ($319.32), which the company achieved on October 27th.
The ADR underperformed when compared to some of its competitors Thursday, as Amazon.com Inc.
fell 3.24% to $3,057.16, eBay Inc.
fell 4.04% to $56.98, and Rakuten Inc. ADR
rose 1.74% to $11.09. Trading volume (17.8 M) remained 6.8 million below its 50-day average volume of 24.6 M.