Alibaba Group Holding Ltd. ADR Falls Monday, Underperforms Market
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The Alibaba Group Holding Ltd. ADR (9988.HK) slid 6.07% to $111.20 Monday, on what proved to be an all-around rough trading session for the stock market, with the NASDAQ Composite Index falling 1.96% to 11,393.81 and Dow Jones Industrial Average falling 0.77% to 33,717.09. This was the ADR's second consecutive day of losses. Alibaba Group Holding Ltd. ADR closed $18.20 below its 52-week high ($129.40), which the company reached on February 17th.
The ADR underperformed when compared to some of its competitors Monday, as Overstock.com Inc. (OSTK) fell 1.94% to $23.73, Rakuten Group Inc. ADR fell 0.87% to $5.10, and eBay Inc. (EBAY) fell 0.22% to $48.89. Trading volume (21.5 M) remained 2.3 million below its 50-day average volume of 23.7 M.
Data source: Dow Jones Market Data, FactSet. Data compiled Janurary 30, 2023.
(END) Dow Jones Newswires
January 30, 2023 16:40 ET (21:40 GMT)
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