Alibaba Group Holding Ltd. ADR Falls Wednesday, Underperforms Market
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The Alibaba Group Holding Ltd. ADR (9988.HK) slipped 1.71% to $113.22 Wednesday, on what proved to be an all-around grim trading session for the stock market, with the NASDAQ Composite Index falling 1.24% to 10,957.01 and Dow Jones Industrial Average falling 1.81% to 33,296.96. This was the ADR's second consecutive day of losses. Alibaba Group Holding Ltd. ADR closed $23.53 short of its 52-week high ($136.75), which the company reached on January 20th.
The ADR demonstrated a mixed performance when compared to some of its competitors Wednesday, as Overstock.com Inc. (OSTK) fell 4.74% to $20.11, Rakuten Group Inc. ADR fell 0.37% to $4.87, and eBay Inc. (EBAY) fell 1.69% to $45.98. Trading volume (15.3 M) remained 11.0 million below its 50-day average volume of 26.3 M.
Data source: Dow Jones Market Data, FactSet. Data compiled Janurary 18, 2023.
(END) Dow Jones Newswires
January 18, 2023 16:40 ET (21:40 GMT)
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