Broadcom Inc. Stock Rises Tuesday, Still Underperforms Market
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Shares of Broadcom Inc. (AVGO) inched 0.83% higher to $646.24 Tuesday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index rising 1.78% to 4,649.23 and the Dow Jones Industrial Average rising 1.60% to 35,492.70. This was the stock's third consecutive day of gains. Broadcom Inc. hit a new 52-week high, surpassing its previous peak of $646.09, which the company achieved on December 20th.
The stock underperformed when compared to some of its competitors Tuesday, as Taiwan Semiconductor Manufacturing Co. Ltd. ADR (2330.TW) rose 2.18% to $117.44, NVIDIA Corp. (NVDA) rose 4.89% to $290.75, and Intel Corp. (INTC) rose 2.36% to $50.77. Trading volume (3.5 M) eclipsed its 50-day average volume of 2.1 M.
Data source: Dow Jones Market Data, FactSet. Data compiled December 21, 2021.
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December 21, 2021 16:39 ET (21:39 GMT)
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