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Shares of Fortinet Inc. (FTNT) plunged 16.33% to $52.61 Thursday, on what proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index falling 0.08% to 4,151.94 and Dow Jones Industrial Average falling 0.26% to 32,726.82. The stock's fall snapped a six-day winning streak. Fortinet Inc. closed $21.74 below its 52-week high ($74.35), which the company reached on December 29th.
The stock underperformed when compared to some of its competitors Thursday, as Cisco Systems Inc. (CSCO) fell 0.72% to $45.38 and HP Inc. (HPQ) rose 0.91% to $33.26. Trading volume (19.6 M) eclipsed its 50-day average volume of 5.2 M.
Data source: Dow Jones Market Data, FactSet. Data compiled August 4, 2022.
(END) Dow Jones Newswires
August 04, 2022 16:55 ET (20:55 GMT)
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