Today the prestigious CLoD goes to Wolf Richter at Wolf Street for:
....Alibaba [BABA]
doesn’t make the list because it’s not a proper stock that conveys a
slice of equity; it’s an ADR, issued by an offshore mailbox company that
has a contract with Alibaba. Holders of BABA have no ownership of
Alibaba, the Chinese company. They have ownership of a mailbox company
that has a contract with Alibaba.....
That's from his July 19 post “
'Giant 5 Index' – AAPL, MSFT, AMZN, GOOG, FB – Sagged All Week, Rest of Market Rose, Still 2.5-Year Wild Ride to Nowhere".