Shares of Fortinet Inc. /zigman2/quotes/205733290/composite FTNT -1.38% shed 8.08% to $305.26 Wednesday, on what proved to be an all-around poor trading session for the stock market, with the S&P 500 Index /zigman2/quotes/210599714/realtime SPX -1.44% falling 1.18% to 4,513.04 and Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -1.49% falling 1.34% to 34,022.04. This was the stock's second consecutive day of losses. Fortinet Inc. closed $50.09 short of its 52-week high ($355.35), which the company reached on November 8th.
The stock underperformed when compared to some of its competitors Wednesday, as Cisco Systems Inc. /zigman2/quotes/209509471/composite CSCO -2.90% rose 0.35% to $55.03 and HP Inc. /zigman2/quotes/203461582/composite HPQ -1.15% rose 3.34% to $36.46. Trading volume (2.3 M) eclipsed its 50-day average volume of 876,441.