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The Ratings Game: Broadcom stock broadsided with worst day ever as CA bid is met with confusion

Broadcom Inc. stock suffered its worst one-day performance ever Thursday, as investors and analysts appeared confused about a self-proclaimed leading infrastructure-technology company agreeing to pay a premium for a legacy mainframe software company.

That confusion took the form of Broadcom AVGO, -13.74% stock falling 13.8% to close at $209.94, after hitting an intraday low of $197.46. Previously, the stock’s worst day was on Oct. 10, 2014, when shares finished down 11.5%. More than 43 million shares changed hands by the close, for the stock’s second-most heavily traded day ever, compared with the stock’s 52-week average daily volume of 3.3 million.

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