Alibaba ADR outperforms market despite losses on the day

The $Alibaba(BABA.US)$ shed 1.09% to $80.71 Thursday, on what proved to be an all-around rough trading session for the stock market, with the $Nasdaq Composite Index(.IXIC.US)$ falling 1.37% to 11,066.81 and Dow Jones Industrial Average falling 0.35% to 30,076.68. This was the ADR's third consecutive day of losses. $Alibaba(BABA.US)$ closed $101.38 short of its 52-week high ($182.09), which the company reached on October 22nd.

The ADR demonstrated a mixed performance when compared to some of its competitors Thursday, as $Amazon(AMZN.US)$ fell 1.04% to $117.31, $eBay(EBAY.US)$ fell 1.62% to $38.30, and $Rakuten Group (ADR)(RKUNY.US)$ rose 2.23% to $4.59. Trading volume (19.1 M) remained 2.2 million below its 50-day average volume of 21.3 M.