Adobe Stock Tanks Near 52-Week Low – Is AI to Blame?
Adobe shares trade near $330, down about 20% year-to-date and roughly one-third from last year’s high. The stock hit a 52-week low around $329 in October despite Q3 results that beat estimates and raised guidance. Wall Street remains divided, with price targets ranging from $450 to $500. Institutional investors, including Joel R. Mogy, have trimmed positions as Adobe lags other AI-focused tech stocks.