AbbVie Shares Plunge: ABBV Stock Drops Over 6% Hitting Day’s Low
April 4th, 2024 – Shares of biopharmaceutical company AbbVie Inc (NYSE: ABBV) are experiencing a sharp decline in today’s trading session. As of 3:15 pm GMT-4, the stock price had fallen significantly to 188.88 USD.
This price reflects a substantial decrease of 12.68 points, translating to a 6.29% drop for the day. The negative sentiment pushed the stock well below its previous closing price of 201.56 USD.
AbbVie opened the trading day strong at 200.00 USD and reached an intraday high of 210.69 USD early in the session. However, momentum reversed, and consistent selling pressure drove the shares down throughout the day, hitting a low of 188.00 USD shortly before the recorded timestamp.
The intraday chart clearly shows the stock opening near its high, followed by a persistent downward trend through the morning and accelerating lower in the afternoon hours, trading near its lowest point for the session.
This current price positions AbbVie notably off its 52-week high of 218.66 USD, although it remains above the 52-week low of 153.58 USD.
Other financial metrics visible include a Price-to-Earnings (P/E) ratio of 79.02 and a relatively high dividend yield of 3.47%. Market participants continue to monitor ABBV’s performance amid the day’s market activity.
