Adobe (NASDAQ:ADBE) stock is falling on Friday on reports that the U.S. may stand in the way of its $20 billion Figma acquisition.
According to reports, people close to the matter claim that the U.S. Justice Department is preparing an antitrust lawsuit to stop the deal. These same reports claim the government may file this lawsuit as early as March.
As for Adobe’s opinion on the reports, the company says there shouldn’t be trouble with regulators. It argues that Adobe and Figma are in different product categories.
Adding to this, Adobe says it’s already in discussions with regulators in the U.S. and Europe about its Figma acquisition. Based on those talks, the company expects the deal to close before the end of the year, Reuters notes.
ADBE Stock Movement on Friday
Investors in ADBE stock have had their confidence shaken by the antitrust lawsuit reports. As a result, the company’s shares have fallen 6.4% as of Friday morning. At the same time, some 1.5 million shares have changed hands so far. For comparison, the company’s daily average trading volume is about 2.7 million shares.
Investors on the lookout for all of the latest stock market news will want to stick around!
InvestorPlace is home to all of the most recent stock coverage traders need to know about on Friday! That includes what’s happening with stocks falling today, as well as the latest stories concerning ShiftPixy (NASDAQ:PIXY) and Boeing (NYSE:BA) shares. We’ve got all of that news prepared at the following links!
More Friday Stock Market News
- Why Are Stocks Down Today?
- PIXY Stock Alert: What to Know as ShiftPixy Utilizes ChatGPT for Recruiting
- BA Stock Alert: Boeing Halts Deliveries of 787 Dreamliners
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
