Baba Stock – Alibaba Group Holding Ltd. ADR falls Wednesday, underperforms market
The Alibaba Group Holding Ltd. ADR
slumped 0.19% to $229.44 Wednesday, on what proved to be an all-around favorable trading session for the stock market, with the NASDAQ Composite Index
rising 1.19% to 13,950.22 and the Dow Jones Industrial Average
rising 0.93% to 34,137.31. This was the ADR’s seventh consecutive day of losses. Alibaba Group Holding Ltd. ADR closed $89.88 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 Wednesday, as Amazon.com Inc.
rose 0.82% to $3,362.02, eBay Inc.
fell 0.02% to $61.78, and Rakuten Group Inc. ADR
fell 3.77% to $11.74. Trading volume (13.1 M) remained 3.4 million below its 50-day average volume of 16.4 M.