Broadcom Inc. Stock Underperforms Tuesday When Compared To Competitors Despite Daily Gains
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Shares of Broadcom Inc. (AVGO) rose 1.45% to $482.11 Tuesday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index rising 0.56% to 3,828.11 and the Dow Jones Industrial Average rising 1.02% to 33,160.83. This was the stock's third consecutive day of gains. Broadcom Inc. closed $195.65 short of its 52-week high ($677.76), which the company reached on December 28th.
The stock demonstrated a mixed performance when compared to some of its competitors Tuesday, as Taiwan Semiconductor Manufacturing Co. Ltd. ADR (2330.TW) rose 3.60% to $65.02, NVIDIA Corp. (NVDA) rose 2.10% to $146.02, and Intel Corp. (INTC) rose 0.25% to $28.48. Trading volume (2.1 M) remained 398,832 below its 50-day average volume of 2.5 M.
Data source: Dow Jones Market Data, FactSet. Data compiled November 8, 2022.
(END) Dow Jones Newswires
November 08, 2022 16:38 ET (21:38 GMT)
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