DJ Cadence Design Systems Inc. Stock Outperforms Competitors Despite Losses On The Day
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Shares of Cadence Design Systems Inc. $(CDNS)$ slipped 1.75% to $304.68 Wednesday, on what proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index falling 0.38% to 5,998.74 and Dow Jones Industrial Average falling 0.31% to 44,722.06.
This was the stock's second consecutive day of losses.
Cadence Design Systems Inc. closed $24.31 below its 52-week high ($328.99), which the company achieved on June 20th.
The stock demonstrated a mixed performance when compared to some of its competitors Wednesday, as Fortinet Inc. $(FTNT)$ fell 2.47% to $94.06, Synopsys Inc. $(SNPS)$ fell 1.12% to $547.74, and Palo Alto Networks Inc. (PANW) fell 3.03% to $384.37.
Trading volume (924,797) remained 991,422 below its 50-day average volume of 1.9 M.
Data source: Dow Jones Market Data, FactSet. Data compiled November 27, 2024.
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(END) Dow Jones Newswires
November 27, 2024 16:45 ET (21:45 GMT)
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