Why Aspen Technology's Stock Crashed in February
Shares in industrial software company Aspen Technology (NASDAQ: AZPN) slumped 10.5% in February according to data provided by S&P Global Market Intelligence. While the S&P 500 also fell during this timeframe, Aspen's results follow a slightly disappointing set of second-quarter earnings released at the end of January. In fact, at the time of writing the stock is down 11.4% on a year-to-date basis compared with a 5.9% decline for the S&P 500.
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To understand why, you have to examine what the company does. Aspen is an industrial software company operating in the manufacturing execution systems (MES) space. Key end markets for Aspen include heavy industries like chemicals, petroleum, and engineering, as well as construction companies in the oil and gas industry.
Source Fool.com
