High-Growth Cloud Stocks Tumble as Interest Rates Rise [MarketWatch]
Zscaler, Inc. (ZS)
Last zscaler, inc. earnings: 2/20 04:05 pm
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Source: MarketWatch
The yield on the 10-year Treasury note surged past 1.6%., rising to 1.624% from 1.549% on Friday. Higher rates tend to trigger selling in high-growth tech shares: The higher rates go, the less investors value future growth in today's dollars. It isn't a judgment on how the Fed views tech stocks. It's all about the math. The same phenomenon triggered a substantial selloff in growth tech shares earlier this year Cloud-based enterprise-software plays tend to have high growth rates, while their stocks trade at unusually high multiples of sales. And the damage in that group on Monday was widespread. Cloud-focused ETFs like Globalk X Cloud Computing (ticker: CLOU) First Trust Cloud Computing ( SKYY), and WisdomTree Cloud Computing Fund ( WCLD) were all suffering losses of 3% or more in late afternoon. Cloud stocks suffering the most severe declines included Asana (ASAN), off 18%; Snowflake (SNOW), down 7%; and Zscaler (ZS), off 6%. DocuSign (DOCU), Okta (OKTA) and Fastly (FSLY) wer
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News
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- Zscaler (ZS) Outpaces Stock Market Gains: What You Should Know [Yahoo! Finance]Yahoo! Finance
- Zscaler Research Finds 60% Increase in AI-Driven Phishing Attacks [Yahoo! Finance]Yahoo! Finance
- Zscaler Research Finds 60% Increase in AI-Driven Phishing AttacksGlobeNewswire
ZS
Earnings
- 2/29/24 - Beat
ZS
Sec Filings
- 4/24/24 - Form D
- 4/17/24 - Form 144
- 4/4/24 - Form 144
- ZS's page on the SEC website