Broadcom Inc. Stock Underperforms Wednesday When Compared To Competitors Despite Daily Gains
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Shares of Broadcom Inc. (AVGO) rose 3.03% to $602.75 Wednesday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index rising 1.05% to 4,119.21 and the Dow Jones Industrial Average rising 0.02% to 34,092.96. This was the stock's second consecutive day of gains. Broadcom Inc. closed $42.56 short of its 52-week high ($645.31), which the company reached on March 29th.
The stock underperformed when compared to some of its competitors Wednesday, as NVIDIA Corp. (NVDA) rose 7.20% to $209.43. Trading volume (2.6 M) eclipsed its 50-day average volume of 2.3 M.
Data source: Dow Jones Market Data, FactSet. Data compiled February 1, 2023.
(END) Dow Jones Newswires
February 01, 2023 16:38 ET (21:38 GMT)
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