Adobe stock rose more than 10% after the news broke that the company would not be acquiring the online publishing company.

The stock gained nearly 50% from its closing price of $53.25 on Monday.

The share price is the highest it’s been since June 2012.

Adobe said Monday that it would instead be buying a smaller company, which could mean fewer layoffs.

Adobe shares have gained nearly 20% this year.

The company’s stock has increased by nearly 60% since it closed at $52.96 in July 2012.

The deal has sparked a backlash in the tech industry, which has long had a reputation for keeping its price low and its stock value relatively high.

Adobe stock has been up more than 120% in the last 12 months, according to data compiled by Bloomberg.

The most recent quarter ended in March.

Adobe shares fell more than 15% on Tuesday, to $57.90.

They have gained more than 8% this month.

The next day, the stock was trading up more that 12%.