DJ Alibaba Group Holding Ltd. ADR Outperforms Market On Strong Trading Day
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The Alibaba Group Holding Ltd. ADR $(BABA)$ inched 0.72% higher to $79.63 Thursday, on what proved to be an all-around grim trading session for the stock market, with the NASDAQ Composite Index falling 1.08% to 16,737.08 and Dow Jones Industrial Average falling 0.86% to 38,111.48.
The ADR's rise snapped a two-day losing streak.
Alibaba Group Holding Ltd. ADR closed $22.87 short of its 52-week high ($102.50), which the company reached on July 31st.
The ADR demonstrated a mixed performance when compared to some of its competitors Thursday, as Beyond Inc. $(BYON)$ fell 0.20% to $15.13, Rakuten Group Inc. ADR (RKUNY) rose 0.80% to $5.06, and eBay Inc. $(EBAY)$ rose 2.42% to $53.35.
Trading volume (13.9 M) remained 3.4 million below its 50-day average volume of 17.2 M.
Data source: Dow Jones Market Data, FactSet. Data compiled May 30, 2024.
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(END) Dow Jones Newswires
May 30, 2024 17:26 ET (21:26 GMT)
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