Adobe Stock Plunges on Weak Outlook Despite Q3 Earnings Beat

Adobe`s stock price dropped significantly after the company released their latest quarterly results. While the results exceeded expectations, their future projections disappointed investors, causing the stock to decline by over 9% in after-hours trading. Despite recent gains, Adobe`s stock is predicted to trend downwards, potentially breaking below established support levels. Investors should watch for support around $500 and potentially lower levels like $439, which represent previous points of stability.