Alibaba Group Holding Ltd. ADR Falls Tuesday, Underperforms Market
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The Alibaba Group Holding Ltd. ADR (9988.HK) shed 0.90% to $110.20 Tuesday, on what proved to be an all-around great trading session for the stock market, with the NASDAQ Composite Index rising 1.67% to 11,584.55 and the Dow Jones Industrial Average rising 1.09% to 34,086.04. This was the ADR's third consecutive day of losses. Alibaba Group Holding Ltd. ADR closed $19.20 short of its 52-week high ($129.40), which the company achieved on February 17th.
The ADR demonstrated a mixed performance when compared to some of its competitors Tuesday, as Overstock.com Inc. (OSTK) rose 2.02% to $24.21, Rakuten Group Inc. ADR fell 0.98% to $5.05, and eBay Inc. (EBAY) rose 1.25% to $49.50. Trading volume (15.3 M) remained 7.8 million below its 50-day average volume of 23.1 M.
Data source: Dow Jones Market Data, FactSet. Data compiled Janurary 31, 2023.
(END) Dow Jones Newswires
January 31, 2023 16:39 ET (21:39 GMT)
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