Adobe's stock has tumbled from a high of about $688 per share in November 2021 to roughly $286 per share today. As I said, that's a staggering 58% decline in less than a year.Now, it's no secret that markets fluctuate. But for a stock to fall that far in a relatively short period...
You might think something is seriously wrong with the company.That doesn't seem to be the case with Adobe, though. The recurring revenue from its Creative Cloud is a great quality. It's a telltale sign of a fundamentally strong business.And earlier this month, Adobe announced plans to buy design platform Figma...
To me, that seems like a good idea. Adobe is taking advantage of the tough environment to expand its offerings. It's a $20 billion buyout – half in cash and half in stock.For Adobe, that isn't much money.
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