Largest Negative Opening Gaps for ADBE

How does ADBE usually behave after a large gap-down move?

Using the 12 largest gap-down moves over the last 3 years in ADBE stock, the average move was -3.4% with the single largest opening gap of -5.4% occurring on 24-Feb-2023. Following the opening, ADBE tended to drift lower to the closing price 83% of the time for an average loss of -1.7%. The following day, ADBE stock price averaged -0.9% losses, with down moves exceeding up moves. The stock was down 75% of the time in that period one day after these significant gaps. Earnings dates have been excluded from this analysis.

Catalysts

7 of ADBE's 12 largest moves corresponded with a large gap down in the overall market. 3 of the moves coincided with a company-issued press release.

Open-to-High and Open-to-Low

The largest percentage gain from the open to the high of the day was +2.9% on 20-Feb-2024, while the biggest drop from the open to the low was -5.6% on 14-Dec-2021. On average, the ADBE stock price gain from the opening price to the highest point of the day was +1.2%, and the average drop to the lowest point was -2.6%.

Day Drift Open-to-Close

The best performance in ADBE stock price from opening price to closing price (referred to as the "drift" for the day) was on 20-Feb-2024 for a +2.2% gain after the stock gapped down -3.0% at the open. The worst worst return from the opening price to the closing price was on 10-Jun-2022 when the stock lost -4.5% after the stock gapped down -3.3%. Overall in the 12 available observations, the stock drifted lower 83% of the time for an average loss of -1.7%.