Alibaba Group Holding Ltd. ADR Falls Friday, Underperforms Market
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The Alibaba Group Holding Ltd. ADR (9988.HK) shed 3.11% to $106.33 Friday, on what proved to be an all-around rough trading session for the stock market, with the NASDAQ Composite Index falling 1.59% to 12,006.95 and Dow Jones Industrial Average falling 0.38% to 33,926.01. This was the ADR's second consecutive day of losses. Alibaba Group Holding Ltd. ADR closed $23.07 below 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 Friday, as Overstock.com Inc. (OSTK) fell 5.05% to $23.87, Rakuten Group Inc. ADR fell 0.58% to $5.15, and eBay Inc. (EBAY) fell 1.94% to $50.66. Trading volume (15.8 M) remained 6.0 million below its 50-day average volume of 21.8 M.
Data source: Dow Jones Market Data, FactSet. Data compiled February 3, 2023.
(END) Dow Jones Newswires
February 03, 2023 16:39 ET (21:39 GMT)
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