Adobe is trading 4.22% down at $255.26 as investors continue reacting to the September 3 announcement that Anil Chakravarthy will replace longtime CEO Shantanu Narayen on December 1.
- Reuters reported the transition comes as Adobe faces intensifying AI competition.
- Adobe Commerce is dealing with the StyleSmuggler zero-day, an actively exploited remote-code-execution flaw; Adobe issued an emergency hotfix on September 7.
- The broader market is modestly weaker, but the decline appears primarily company-specific.