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Why Fortinet Stock Fell 10.8% in September

TheMotleyFool

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Why Fortinet Stock Fell 10.8% in SeptemberPhoto, wide shot, wide-angle lens, Telecom equipment supplier, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.theapi.app/temp/3967c11c-b755-4d39-87d0-acc853384c80.png

Shares of cybersecurity specialist Fortinet (NASDAQ: FTNT) fell 10.8% in September, according to data from S&P Global Market Intelligence. There wasn't much news for the company during the quarter, so what's the reason for the fall?

Likely, Fortinet's stock fell for the same reasons many technology stocks fell during September: stretched valuations, combined with a deluge of initial public offerings hitting the market last month, which increased the supply of tech stocks available for a fixed amount of investment dollars.

Images source: Getty Images.

Source Fool.com

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