Adobe stock rises as holiday online sales hit $257.8B and AI shopping traffic jumpsAdobeAdobe stock rises as holiday online sales hit $257.8B and AI shopping traffic jumps
Adobe shares rose 0.6% to $338.10 after its data showed U.S. online holiday spending hit $257.8 billion, beating forecasts. Buy-now-pay-later drove $20 billion in sales, and retail sites saw a 693% jump in AI shopping assistant traffic. Jefferies cut its rating on Adobe to Hold, citing rising competition from AI tools. The stock remains 28% below its 52-week high.