Adobe Inc Shares Crashes

Adobe Inc. shares rallied 1.48% to $575.74 Tuesday. This proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX rising 0.51% to 4,246.44 and the Dow Jones Industrial Average DJIA rising 0.20% to 33,945.58.

Adobe Inc. hit a new 52-week high, surpassing its previous peak of $570.19, which the company reached on June 21st. The stock outperformed some of its competitors Tuesday, as Microsoft Corp. MSFT rose 1.10% to $265.51, Salesforce.com Inc. CRM fell 0.56% to $243.11, and SAP SE ADR SAP rose 0.33% to $141.24.

Adobe Inc trading volume (2.4 M) eclipsed its 50-day average volume of 2.1 M.This was the stock’s fourth consecutive day of gains. Adobe isn’t comparing this year’s Prime Day shopping extravaganza with last year’s, which occurred in October. The event had traditionally taken place in July until the Covid pandemic forced a delay. And this year, Amazon shifted the deals slightly sooner so that Prime Day would fall during what is typically a shopping lull in the second quarter.

Monday also surpassed the $5.1 billion that consumers spent online over Thanksgiving Day last year. Adobe said that retailers that bring in more than $1 billion in revenue each year reported a 28% increase in e-commerce sales on Monday compared with the same day a year earlier, while smaller retailers doing less than $10 million in annual revenue saw a 22% lift.LivePerson and Adobe are partnering to transform digital experiences using conversational AI and personalization.