Adobe (NASDAQ:ADBE) stock hit its closing record of $688.37 on Nov. 19, 2021. Almost five years later, shares of the creative software company trade around $248 as I write this -- about 64% off that high. And at their June 25 closing low of $193.41, they were down about 72%, the stock's deepest drop since the dot-com crash. Deep drops are nothing new to Adobe, though. Using daily closing prices since 1990 (adjusted for stock splits, with dividends left out), the stock had fallen at least 30% from a record close eight times before this slide. It then set a new record after every one. But I don't think that history settles much, because the two slumps this one most resembles started with a problem today's Adobe doesn't have.
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