DJ Cadence Design Systems Inc. Stock Underperforms Thursday When Compared To Competitors
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Shares of Cadence Design Systems Inc. $(CDNS)$ slumped 0.45% to $299.87 Thursday, on what proved to be an all-around mixed trading session for the stock market, with the Dow Jones Industrial Average rising 0.04% to 42,342.24 and the S&P 500 Index falling 0.09% to 5,867.08.
This was the stock's third consecutive day of losses.
Cadence Design Systems Inc. closed $29.12 short of its 52-week high ($328.99), which the company achieved on June 20th.
The stock underperformed when compared to some of its competitors Thursday, as Fortinet Inc. $(FTNT)$ rose 1.60% to $94.85, Synopsys Inc. $(SNPS)$ fell 0.22% to $493.35, and Palo Alto Networks Inc. (PANW) rose 0.32% to $189.36.
Trading volume (1.7 M) remained 208,288 below its 50-day average volume of 1.9 M.
Data source: Dow Jones Market Data, FactSet. Data compiled December 19, 2024.
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(END) Dow Jones Newswires
December 19, 2024 16:45 ET (21:45 GMT)
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