This Is What Whales Are Betting On Adobe
Portfolio Pulse from Benzinga Insights
A large bearish position on Adobe (NASDAQ:ADBE) has been spotted, with 67% of big-money traders showing bearish sentiment. Whales have been targeting a price range of $250 to $610 for Adobe over the last 3 months. RBC Capital downgraded its action to Outperform with a price target of $415.
May 30, 2023 | 5:03 pm
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A large bearish position has been spotted on Adobe, with 67% of big-money traders showing bearish sentiment. RBC Capital downgraded its action to Outperform with a price target of $415.
The large bearish position and the 67% bearish sentiment among big-money traders indicate that there may be negative news or expectations for Adobe in the short term. Additionally, RBC Capital's downgrade to Outperform with a price target of $415 suggests that the stock may not perform as well as previously expected. These factors combined are likely to have a negative impact on Adobe's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100