Adobe is trading 4.6% up at $230.92 as investors bargain-hunt following a sharp decline triggered by generative AI competition and Q2 earnings concerns.
- The rebound follows a significant selloff on July 14, which was exacerbated by analyst downgrades and fears over the company's competitive position in the AI landscape.
- Broader market sentiment has improved, with rising major indices providing a tailwind for tech stocks that were previously oversold.