Cisco Systems Inc. Stock Falls Wednesday, Underperforms Market
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Shares of Cisco Systems Inc. (CSCO) shed 2.39% to $49.46 Wednesday, on what proved to be an all-around poor trading session for the stock market, with the S&P 500 Index falling 1.65% to 3,936.97 and Dow Jones Industrial Average falling 1.63% to 32,030.11. This was the stock's second consecutive day of losses. Cisco Systems Inc. closed $7.48 below its 52-week high ($56.94), which the company achieved on March 30th.
The stock underperformed when compared to some of its competitors Wednesday, as Microsoft Corp. (MSFT) fell 0.54% to $272.29, Amazon.com Inc. (AMZN) fell 1.90% to $98.70, and Broadcom Inc. (AVGO) fell 0.92% to $630.92. Trading volume (21.4 M) eclipsed its 50-day average volume of 18.6 M.
Data source: Dow Jones Market Data, FactSet. Data compiled March 22, 2023.
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March 22, 2023 16:48 ET (20:48 GMT)
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