WIX - These 2 Nasdaq Stocks Had a Case of the Monday Blues
Investors were hoping that the gains they enjoyed last Friday might be the beginning of a larger bounce. Yet often, Wall Street disappoints those who are hunting for a bottom in the market, and that proved to be the case on Monday. Most major indexes are down, with the Nasdaq Composite (NASDAQINDEX: ^IXIC) leading the way lower with a decline of greater than 1% as of 11:30 a.m. ET.
Contributing to some of the downward pressure were two companies that reported their latest financial results. Both Wix.com (NASDAQ: WIX) and Monday.com (NASDAQ: MNDY) were lower following their respective reports, although there was a lot more uncertainty about what the future could bring for these tech companies .
Shares of Wix.com were down about 4% on Monday afternoon. The provider of tools enterprise customers and individuals can use to create a digital presence on the internet continued to grow, but at rates that were slower than some investors had wanted to see .
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These 2 Nasdaq Stocks Had a Case of the Monday Blues