🟢 Intuit Inc is trading 6.5% up today after Norges Bank discloses $3.06B stake

Intuit Inc is trading 6.5% up today at $353.06 as the stock rebounds following the disclosure of a massive new stake by Norges Bank.

• Norges Bank revealed a purchase of 4.62 million shares worth approximately $3.06 billion, giving the fund a 1.66% ownership stake in the company.
• The institutional investment follows a sharp selloff on May 20, signaling strong confidence from major players despite a recent post-earnings slide.
• While a shareholder investigation regarding a prior 20% drop remains in focus, today's price action is driven by institutional buying and broader tech-sector support.