Baba Stock – Alibaba Group Holding Ltd. ADR falls Wednesday, underperforms market
The Alibaba Group Holding Ltd. ADR
slid 2.23% to $225.42 Wednesday, 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 33,446.26 and the NASDAQ Composite Index
falling 0.07% to 13,688.84. The ADR’s fall snapped a two-day winning streak. Alibaba Group Holding Ltd. ADR closed $93.90 below its 52-week high ($319.32), which the company reached on October 27th.
The ADR underperformed when compared to some of its competitors Wednesday, as Amazon.com Inc.
rose 1.72% to $3,279.39, eBay Inc.
fell 1.22% to $61.76, and Rakuten Group Inc. ADR
rose 0.67% to $11.97. Trading volume (17.7 M) eclipsed its 50-day average volume of 15.8 M.