MNDY - With the Massive Tech Sell-Off 3 SaaS Stocks We'd Buy Without Hesitation
Tech investors have been gritting their teeth as many of their favorite stocks have sold off considerably since November. The tech-heavy Nasdaq Composite index is down more than 15% off its high, but that figure doesn't tell the tale of what is happening to individual investors.
The Nasdaq index is weighted by market cap so larger companies (which are typically less volatile) can help reduce the impact of broad downturns. For instance, Apple and Microsoft , which make up more than 20% of the index, are down only 10% and 16% off their highs respectively, whereas many smaller market cap tech companies are down 40%, 50%, or even more from their recent highs.
Given the state of the market today, we asked three longtime Fool contributors to pick their favorite software-as-a-service (SaaS) stock that they would buy right now, without hesitation. They picked Shopify (NYSE: SHOP) , Palantir (NYSE: PLTR) , and Monday.com (NASDAQ: MNDY) .
For further details see:
With the Massive Tech Sell-Off, 3 SaaS Stocks We'd Buy Without Hesitation