Shares of Fortinet Inc. /zigman2/quotes/205733290/composite FTNT +3.63% slid 4.37% to $296.92 Monday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index /zigman2/quotes/210599714/realtime SPX +0.34% rising 0.23% to 4,468.73 and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.10% rising 0.76% to 34,869.63. This was the stock's second consecutive day of losses. Fortinet Inc. closed $25.08 below its 52-week high ($322.00), which the company achieved on September 7th.
The stock underperformed when compared to some of its competitors Monday, as Cisco Systems Inc. /zigman2/quotes/209509471/composite CSCO -0.11% rose 0.36% to $58.10, HP Inc. /zigman2/quotes/203461582/composite HPQ +1.13% rose 1.36% to $28.38, and Palo Alto Networks Inc. /zigman2/quotes/207599953/composite PANW +1.44% rose 1.32% to $476.12. Trading volume (1.8 M) eclipsed its 50-day average volume of 920,578.