Cadence (CDNS) Stock Jumps 4.8%: Will It Continue to Soar?

Cadence Design Systems (CDNS) shares rallied 4.8% in the last trading session to close at $354.7. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 3% loss over the past four weeks.The performance is influenced by the growing clout of CDNS in the EDA space amid the AI boom. The company's product portfolio is rapidly gaining adoption as secular trends like 5G, increased use of hyperscale computing, and autonomou ...