Why Are Tech Stocks Down Right Now
International tech stocks dropped because domestic tech stocks dropped.
Why are tech stocks down right now. Many strategists think the declines are healthy, and that share prices of many tech companies. Share prices crashed 10% lower over the next two days and have stayed down ever since.
Tech stocks are in a correction. Despite gains in some big tech names, the nasdaq composite is close behind, also down more than 0.3%.
Whether it was an emerging tech company or industry leaders pushing boundaries, tech investors reaped the benefits. The last reason stocks are up right now is simply momentum.
Many international exchanges were closed by then. And could potentially fall 25% more;
Tech stocks have been hit hard recently. Two of their bigger funds, the ark innovation etf and the ark internet etf, both of which are very focused on high growth tech stocks, are down 28% and 26%.
One gives it a $40. Again, these are just the averages.
Bespoke investment group describes the surge in tech stocks as the third act of the current bull market, which began when the market rebounded from its low on march 23. Palantir stock is down 30% in the last month, as the broader market has taken a slight dip.
Had its price target raised by analysts at barclays plc from $61.00 to $66.00. However, before you panic and run screaming from all things tech and growth, it’s important to keep two things in mind.
Fortinet (nasdaq:ftnt), which was off 9.6%; Had its price target raised by analysts at bmo capital markets from $64.00 to $81.00.
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