DJ Cadence Design Systems Inc. Stock Underperforms Friday When Compared To Competitors
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Shares of Cadence Design Systems Inc. $(CDNS)$ slipped 1.07% to $299.68 Friday, on what proved to be an all-around grim trading session for the stock market, with the S&P 500 Index falling 0.95% to 6,025.99 and Dow Jones Industrial Average falling 0.99% to 44,303.40.
The stock's fall snapped a four-day winning streak.
Cadence Design Systems Inc. closed 8.91% short of its 52-week high of $328.99, which the company reached on June 20th.
The stock demonstrated a mixed performance when compared to some of its competitors Friday, as Fortinet Inc. $(FTNT)$ rose 2.81% to $107.66, Synopsys Inc. $(SNPS)$ fell 1.38% to $525.82, and Palo Alto Networks Inc. (PANW) rose 3.51% to $193.94.
Trading volume (1.4 M) remained 146,266 below its 50-day average volume of 1.5 M.
Data source: Dow Jones Market Data, FactSet. Data compiled February 7, 2025.
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February 07, 2025 16:41 ET (21:41 GMT)
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