Adobe (ADBE) Stock: Plunges to 52-Week Low on AI Competition Worries

TLDR Adobe stock dropped 5.4% on Monday after Oppenheimer downgraded from “outperform” to “market perform” Goldman Sachs previously moved Adobe to “Sell” rating, creating worst analyst sentiment in over a decade Generative AI competitors like Canva, Figma, and OpenAI are pressuring Adobe’s traditional business model Shares touched 52-week low of $311.55, down 24.42% from a [...]

The post Adobe (ADBE) Stock: Plunges to 52-Week Low on AI Competition Worries appeared first on Blockonomi.