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Adobe Inc. (NASDAQ:ADBE) shares traded higher Thursday as part of a broader rally in software stocks. This movement comes amid a decline in yields, which typically benefits growth stocks like those in the software sector.
What’s Going On: Thursday’s economic indicators, including an upward revision in first-quarter GDP growth to 1.4% and mixed consumer spending data, have influenced market sentiment. Despite the modest GDP growth, concerns over weakening consumer spending have been highlighted by economists, potentially signaling a slower economic trajectory for the rest of the year.
Investors in tech stocks, including Adobe, Salesforce and Meta Platforms, have responded positively, with these stocks seeing strong gains on Thursday. The outperformance in the tech sector is reflected in indices such as the SPDR S&P 500 ETF Trust (NYSE:SPY), which closed up 0.17% and the Invesco QQQ Trust (NASDAQ:QQQ), which closed up 0.26%.
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By now you're likely curious about how to participate in the market for Adobe – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. In the case of Adobe, which is trading at $546.76 as of publishing time, $100 would buy you 0.18 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
ADBE Price Action: Adobe shares closed Thursday up 3.42% at $546.76, according to Benzinga Pro.
Photo via Shutterstock.
