Nasdaq Falls 97 Points as Datadog Dives; Groupon Skyrockets on Recovery Hopes
The Nasdaq Composite (NASDAQINDEX: ^IXIC) has been on a tear recently, posting many record highs over the past several sessions. On Friday, though, the stock market finally took a break, and even the Nasdaq wasn't able to avoid declines. Losses for the Nasdaq-100 Index amounted to nearly 1.25%, while the Composite fell roughly 1% on the day.
Software-as-a-service companies have helped lead the Nasdaq higher, but they also proved to be a headwind to performance on Friday. Datadog (NASDAQ: DDOG) released second-quarter financial results that fell short of investor hopes despite showing strong growth. However, Groupon (NASDAQ: GRPN) was able to give shareholders a great deal as its turnaround efforts appear to be paying off.
Shares of Datadog plunged 16% on Friday. Even though the cloud monitoring and security specialist's results showed continuing growth, investors seemed more concerned about the sustainability of future gains.
Source Fool.com
