Adobe stock price smells like a bargain ahead of earnings
Adobe stock price has plummeted in the past few months as competition in its business has continued rising. ADBE bottomed at $331 in August, down by over 44% from its highest level in 2024. A closer look at its performance shows that it is now trading at a bargain.
Why the Adobe stock price has crashed
Adobe, a company that used to be a darling among investors has slowly become a disliked name in the past two years.
There are two primary reasons for the ongoing performance. First, its core business has been disrupted by companies like Figma and Canva.
Figma, which recently went public, is now valued at over $26 billion, while the latest fundraising placed the valuation at of Canva at over $50 billion. This disruption is a major issue…
