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Wednesday, 11/08/2023 11:14:39 AM

Wednesday, November 08, 2023 11:14:39 AM

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Oracle (ORCL) stock ends seven-day rally, underperforms market peers
By: Investing | November 8, 2023

Oracle Corp (NYSE:ORCL)'s shares took a slight dip of 0.11% to close at $108.99 on Tuesday, marking an end to a week-long rally. This performance was in stark contrast to the gains posted by the broader market, with the S&P 500 Index and the Dow Jones Industrial Average recording increases of 0.28% and 0.17% respectively.

The tech firm also lagged behind its industry counterparts, Microsoft Corp (NASDAQ:MSFT). and Alphabet (NASDAQ:GOOGL) Inc., which saw their stocks rise. Microsoft's shares were up by 1.12%, while Alphabet's Class C and Class A shares witnessed an increase of 0.72% and 0.55% respectively.

Despite the recent rally, Oracle's closing price on Tuesday was still significantly lower than its year-high of $127.54 recorded in June. The stock closed $18.55 short of this peak figure. Additionally, the company's trading volume for Tuesday stood at 7.4 million, which was below its 50-day average trading volume of 10.6 million.

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