DJ Alibaba Group Holding Ltd. ADR Outperforms Competitors Despite Losses On The Day
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The Alibaba Group Holding Ltd. ADR $(09988)$ sank 0.40% to $93.65 Wednesday, on what proved to be an all-around positive trading session for the stock market, with the NASDAQ Composite Index rising 0.54% to 14,019.31 and the Dow Jones Industrial Average rising 0.11% to 34,890.24.
The ADR's fall snapped a three-day winning streak.
Alibaba Group Holding Ltd. ADR closed $27.65 short of its 52-week high ($121.30), which the company reached on January 26th.
The ADR demonstrated a mixed performance when compared to some of its competitors Wednesday, as Overstock.com Inc. (OSTK) fell 1.37% to $26.21, Rakuten Group Inc. ADR rose 0.25% to $3.94, and eBay Inc. $(EBAY)$ rose 0.97% to $44.75.
Trading volume (13.3 M) remained 4.9 million below its 50-day average volume of 18.2 M.
Data source: Dow Jones Market Data, FactSet. Data compiled August 30, 2023.
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(END) Dow Jones Newswires
August 30, 2023 17:26 ET (21:26 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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