On May 21, Adobe fell 3.24% in regular trading, trading at $243.2/share, with trading volume of $113 million, continuing a post-rebound pullback pattern.

On the news front, the rebound momentum previously triggered by competitor Figma's better-than-expected earnings has clearly faded, while Adobe's core headwinds — subscription business growth deceleration and AI commercialization conversion falling short of expectations — remain unresolved. The stock had rebounded from multi-year lows near $233 to approximately $264 following market reassessment of creative software AI monetization prospects, but funds have since resumed exiting as doubts persist over whether Adobe can replicate Figma's AI credit-based pricing model success. The broader Application Software sector is under significant pressure, with peer Intuit plunging nearly 19.9%, amplifying sector-wide selling momentum. Adobe's cumulative decline over two years now approaches 60%, reflecting sustained investor skepticism toward its ability to offset subscription weakness through AI-driven revenue growth.

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