- Wednesday, October 16, 2024
Shares of Microsoft Corp. showed a significant rise of 2.11% on Wednesday, reaching a price of $414.05 per share. This positive performance took place amidst an overall favorable trading day for the stock market. The S&P 500 Index rose 0.82% to 4,995.06, while the Dow Jones Industrial Average increased by 0.40% to 38,677.36.
This rise in Microsoft's stock value comes after a two-day losing streak. It is worth noting that the company's closing price was $1.27 lower than its 52-week high of $415.32, which was reached on January 31st.
In comparison to its competitors, Microsoft outperformed several tech giants on Wednesday. Apple Inc. experienced a marginal increase of 0.06%, with their shares valued at $189.41. Similarly, both Alphabet Inc. Cl C and Alphabet Inc. Cl A observed positive movement in their stock prices. Alphabet Inc. Cl C rose by 0.87%, reaching $146.68, while Alphabet Inc. Cl A saw a more substantial increase of 1.00%, with shares closing at $145.54.
Despite the positive market performance, Microsoft's trading volume remained slightly lower than its 50-day average volume. The trading volume on Wednesday was 22.2 million, which is 3.1 million below the 50-day average volume of 25.3 million shares.
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