AYX - The Cloud's Monday Mini-Meltdown: 5 Stocks Where I Bought the Dip
Investors in high-octane but equally high-valuation cloud computing stocks were welcomed on Monday with a mini-meltdown, well documented here by fellow Fool.com contributor Anders Bylund. Maybe a bunch of money managers all got into the office on Monday with to-do lists that included some selling and subsequent buying in bargain areas of the market (oil and retail, for example, went up). Or maybe individual investors all decided that 2019 has been a fantastic year so far, and it was time to take some profits. Maybe it was a little of both, or something else entirely.
Who knows, but sometimes there is as much explanation for a sell-off as there is a logical explanation for why an unprofitable -- albeit fast-growing -- company like Beyond Meat would increase in valuation by several hundred percent in just a few months' time. At any rate, if you were holding on to cloud stocks over the weekend and found your holdings took as much as a double-digit haircut come Monday, two things should be true:
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