Adobe (NASDAQ:ADBE) shares dropped 5.4% after being downgraded by Oppenheimer, citing concerns over AI competition from firms like Canva and OpenAI. This marks the most pessimistic outlook for Adobe in over a decade, with worries about revenue growth and earnings. The stock closed at $310.02. While Adobe’s shares are not very volatile, today’s move indicates the market sees the news as significant. The stock is down 6.7% since the start of the year, trading 33% below its 52-week high. Investors who bought shares 5 years ago would now have an investment worth $658.47.

Read more at Barchart: Why Adobe (ADBE) Shares Are Falling Today