DJ IPG Photonics Corp. Stock Underperforms Wednesday When Compared To Competitors Despite Daily Gains
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Shares of IPG Photonics Corp. $(IPGP)$ inched 0.40% higher to $87.82 Wednesday, on what proved to be an all-around grim trading session for the stock market, with the S&P 500 Index falling 0.27% to 5,307.01 and Dow Jones Industrial Average falling 0.51% to 39,671.04.
The stock's rise snapped a two-day losing streak.
IPG Photonics Corp. closed $54.03 short of its 52-week high ($141.85), which the company reached on July 13th.
The stock demonstrated a mixed performance when compared to some of its competitors Wednesday, as Teradyne Inc. $(TER)$ rose 1.85% to $142.86 and Lumentum Holdings Inc. (LITE) fell 1.13% to $45.49.
Trading volume (184,087) remained 57,323 below its 50-day average volume of 241,410.
Data source: Dow Jones Market Data, FactSet. Data compiled May 22, 2024.
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May 22, 2024 17:30 ET (21:30 GMT)
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