Adobe was an amazing company. I'm an end user since 1991. I think it's become a value trap. Look at the performance for the past 6 years. The expert valuation continues to look rosy but stock value continues to sink and lag. I'm using a long call as a value test. Not only are my shares continuing to drop from the high over $600 a share but the call continues to lose value. Adobe's investment in Firefly has caused great harm in the user community. It cannibalizes the user base. It devalues the work of original content creators and it's driving the independent users to products like Canva and DaVinci. It's not running from the burning building yet but as a long time user who doesn't want to relearn new software I keep cheering the team forward but it looks like they don't know what to do with the ball and may not even know what the ball looks like.
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