Oracle Shares Skid in Biggest One-Day Slump This Year
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Oracle Corp. shares had their worst day this year, snapping two weeks of gains, after a Berenberg analyst initiated coverage on the software company with a hold rating.
The Austin, Texas-based database giant declined 5.2% to $72.12 at the close Wednesday in New York, its biggest one-day fall since December. The selloff today comes after its stock dropped on Tuesday amid a rout in tech stocks as worse-than-expected inflation sparked a meltdown in the broad market.