PLAN - These 2 Tech Stocks Are Plunging in Wednesday's Premarket
The stock market has seen some volatility pop back up after a strong rally throughout much of October and early November, and after moving to record levels, market benchmarks have started to pull back. That trend continued in premarket trading on Wednesday morning. At 8:30 a.m. ET, futures for the Dow Jones Industrial Average (DJINDICES: ^DJI) were down 135 points to 35,631, while S&P 500 (SNPINDEX: ^GSPC) futures lost 14 points to 4,675 and Nasdaq Composite (NASDAQINDEX: ^IXIC) futures dropped 60 points to 16,252.
High-growth tech stocks have taken a lot of damage over the past couple of weeks, and investors have been responding to earnings releases with a lot of nervousness about whether past rates of growth will continue. On Wednesday morning, two more tech stocks fell sharply following their latest financial reports. Below, we'll look more closely at why Autodesk (NASDAQ: ADSK) and Anaplan (NYSE: PLAN) are falling hard and what their futures might hold.
Shares of Autodesk were down more than 13% in premarket trading following the computer-aided design (CAD) software giant's third-quarter financial report. Although Autodesk sustained ongoing growth, investors seemed unimpressed with its guidance for its immediate future.
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These 2 Tech Stocks Are Plunging in Wednesday's Premarket