DJ Alibaba Group Holding Ltd. ADR Falls Monday, Underperforms Market
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The Alibaba Group Holding Ltd. ADR $(BABA)$ dropped 0.93% to $71.46 Monday, on what proved to be an all-around dismal trading session for the stock market, with the NASDAQ Composite Index falling 0.27% to 16,384.47 and Dow Jones Industrial Average falling 0.41% to 39,313.64.
This was the ADR's third consecutive day of losses.
Alibaba Group Holding Ltd. ADR closed $33.59 short of its 52-week high ($105.05), which the company reached on March 30th.
The ADR underperformed when compared to some of its competitors Monday, as Beyond Inc. $(BYON)$ rose 1.09% to $35.20, Rakuten Group Inc. ADR (RKUNY) rose 1.77% to $5.82, and eBay Inc. $(EBAY)$ fell 0.37% to $51.23.
Trading volume (12.4 M) remained 6.9 million below its 50-day average volume of 19.3 M.
Data source: Dow Jones Market Data, FactSet. Data compiled March 25, 2024.
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(END) Dow Jones Newswires
March 25, 2024 17:27 ET (21:27 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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