HUBS - Why These 5 Tech Stocks All Fell Double Digits Today
Almost no stock was spared from the market crash today. Major indexes opened the day deep in the red after President Trump last night imposed a 30-day ban on most travel from Europe, and stocks finished even lower as mass closure of events and activities continued. A number of colleges told students to stay at home and take classes online, while corporate offices mandated work-from-home policies. This afternoon, the NCAA canceled its March Madness basketball, Major League Baseball said it would delay the start of the baseball season by two weeks, and Disneyland in California made plans to close temporarily. The S&P 500 lost 9.5%, its worst single-day drop since 1987.
Tech stocks were among the big losers today, including Criteo (NASDAQ: CRTO), which finished down 15.9%, and CalAmp (NASDAQ: CAMP), which also gave up 15.9%. Hubspot (NYSE: HUBS) lost 10.8%, and Fortinet (NASDAQ: FTNT) was off 13.8%. Zebra Technologies fell 15.6%.
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