Shares of Cisco Systems Inc. CSCO, -2.65% shed 2.65% to $50.74 Wednesday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index SPX, +0.74% rising 0.74% to 4,472.16 and the Dow Jones Industrial Average DJIA, +0.25% rising 0.25% to 34,347.43.
The stock’s fall snapped a two-day winning streak.
Cisco Systems Inc. closed $1.82 below its 52-week high ($52.56), which the company achieved on April 3rd.
The stock underperformed when compared to some of its competitors Wednesday, as Microsoft Corp. MSFT, +1.42% rose 1.42% to $337.20, Amazon.com Inc. AMZN, +1.57% rose 1.57% to $130.80, and Broadcom Inc. AVGO, +0.90% rose 0.90% to $889.95.
Trading volume (25.9 M) eclipsed its 50-day average volume of 18.3 M.