Markets closed sideways but Fastly, Inc., PowerFleet, Inc., Everbridge, Inc. drop and make it on this unflattering list of yesterday's losing technology stocks.
A review of what happened yesterday: markets completed a mixed session yesterday while Dow Jones gained 0.98% and closed at 33,600. S&P 500 closed the day at 4,124.51, having gained 0.37%.
Current market events are being influenced by ambiguous macro data as United States ISM Manufacturing PMI (Mar) came out at 46.3, while a consensus of analysts was expecting 47.5.
While markets traded sideways yesterday, some technology stocks suffered significant losses. Here is the list of Top Losers from yesterday:
Everbridge | -6.29% at $32.49
Early in yesterday's session, Everbridge, Inc. dropped to $32.49 from $34.67 at the end of Friday, before closing at $32.49. During the session, it lost 6.29%.
-7.04%: yesterday's lacklustre sentiment ensured Fastly slid 7.04%
Early in yesterday's session, Fastly dropped to $16.3 from $17.76 at the end of Friday, before closing at $16.51. During the session, it lost 7.04%. The company has a market cap of $2 billion with an average daily trading volume of 3.96 million shares.
-6.41%: yesterday's slide leaves PowerFleet traders hoping for a bounce
An influx of sellers pushed the IoT software-as-a-service provider to session lows around $3.13 while establishing a $3.13 to $3.47 session range yesterday. PowerFleet is currently trading with a market cap of $116.11 million with an average daily volume of 78,286 shares.