Baba Stock – Alibaba Group Holding Ltd. ADR outperforms competitors despite losses on the day
The Alibaba Group Holding Ltd. ADR
slid 0.04% to $229.35 Thursday, on what proved to be an all-around grim trading session for the stock market, with the NASDAQ Composite Index
falling 0.94% to 13,818.41 and Dow Jones Industrial Average
falling 0.94% to 33,815.90. This was the ADR’s eighth consecutive day of losses. Alibaba Group Holding Ltd. ADR closed $89.97 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 Thursday, as Amazon.com Inc.
fell 1.58% to $3,309.04, eBay Inc.
fell 1.68% to $60.74, and Rakuten Group Inc. ADR
rose 6.56% to $12.51. Trading volume (11.9 M) remained 4.3 million below its 50-day average volume of 16.3 M.