Alibaba Group Holding Ltd. ADR Falls Thursday, Underperforms Market
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The Alibaba Group Holding Ltd. ADR (9988.HK) shed 1.63% to $113.15 Thursday, on what proved to be an all-around positive trading session for the stock market, with the NASDAQ Composite Index rising 0.64% to 11,001.10 and the Dow Jones Industrial Average rising 0.64% to 34,189.97. The ADR's fall snapped a seven-day winning streak. Alibaba Group Holding Ltd. ADR closed $23.60 short of its 52-week high ($136.75), which the company reached on January 20th.
The ADR underperformed when compared to some of its competitors Thursday, as Overstock.com Inc. (OSTK) rose 1.62% to $21.34, Rakuten Group Inc. ADR rose 3.65% to $4.83, and eBay Inc. (EBAY) fell 0.39% to $46.43. Trading volume (16.5 M) remained 10.2 million below its 50-day average volume of 26.7 M.
Data source: Dow Jones Market Data, FactSet. Data compiled Janurary 12, 2023.
(END) Dow Jones Newswires
January 12, 2023 16:39 ET (21:39 GMT)
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