Baba Stock – Alibaba Group Holding Ltd. ADR rises Monday, still underperforms market
The Alibaba Group Holding Ltd. ADR
inched 0.42% higher to $225.30 Monday, on what proved to be an all-around great trading session for the stock market, with the NASDAQ Composite Index
rising 1.67% to 13,705.59 and the Dow Jones Industrial Average
rising 1.13% to 33,527.19. The ADR’s rise snapped a three-day losing streak. Alibaba Group Holding Ltd. ADR closed $94.02 short of its 52-week high ($319.32), which the company reached on October 27th.
The ADR underperformed when compared to some of its competitors Monday, as Amazon.com Inc.
rose 2.08% to $3,226.73, eBay Inc.
rose 0.92% to $63.69, and Rakuten Group Inc. ADR
rose 1.25% to $12.15. Trading volume (14.7 M) remained 1.5 million below its 50-day average volume of 16.2 M.