DJ Cadence Design Systems Inc. Stock Underperforms Thursday When Compared To Competitors
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Shares of Cadence Design Systems Inc. $(CDNS)$ shed 6.39% to $303.79 Thursday, on what proved to be an all-around grim trading session for the stock market, with the S&P 500 Index falling 0.19% to 6,075.11 and Dow Jones Industrial Average falling 0.55% to 44,765.71.
The stock's fall snapped a four-day winning streak.
Cadence Design Systems Inc. closed $25.20 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 Thursday, as Fortinet Inc. $(FTNT)$ rose 0.27% to $98.46, Synopsys Inc. $(SNPS)$ fell 12.37% to $515.29, and Palo Alto Networks Inc. (PANW) fell 0.38% to $403.03.
Trading volume (2.7 M) eclipsed its 50-day average volume of 1.9 M.
Data source: Dow Jones Market Data, FactSet. Data compiled December 5, 2024.
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December 05, 2024 16:45 ET (21:45 GMT)
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