DBX - This Sleepy Software Stock Beat the Market in 2022: What's In Store for 2023?
Few investors came out of 2022 unscathed by the bear market. Technology stocks are down almost 30% this year, the S&P 500 is down over 15%, and many individual stocks are down over 80% from recent highs. This is especially true for software stocks, which went through a huge bull market run in 2021. Now, in 2022, valuations contracted considerably, with the majority of popular software stocks down over 50% since the start of the year.
But not every stock is trading down 50% or more. Oft-forgotten software company Dropbox (NASDAQ: DBX) is trading only down 6.5% in 2022, beating the returns of almost every software stock as well as the broad market over that time period.
Will this stock outperformance continue in 2023? Let's investigate.
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This Sleepy Software Stock Beat the Market in 2022: What's In Store for 2023?