Published on 1 Feb 2023 on Market Watch
Cisco Systems Inc. stock falls Wednesday, underperforms market
Shares of Cisco Systems Inc. shed 0.21% to $48.57 Wednesday, on what proved to be an all-around favorable 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. Cisco Systems Inc. closed $9.12 short of its 52-week high ($57.69), which the company achieved on February 18th.
The stock underperformed when compared to some of its competitors Wednesday, as Microsoft Corp. rose 1.99% to $252.75, Amazon.com Inc. rose 1.96% to $105.15, and Broadcom Inc. rose 3.03% to $602.75. Trading volume (19.6 M) eclipsed its 50-day average volume of 17.7 M.