Why Braze Stock Was Sliding This Week
Tech stocks that weren't manufacturers of artificial intelligence (AI) hardware were feeling the squeeze this week. Several top tech companies indicated plans to spend heavily on building out their AI capabilities; with that, investors aggressively sold out of software companies.
One of these was customer engagement software specialist Braze (NASDAQ: BRZE). As of Friday morning before market open, the company's shares were down by 15% week to date, according to data compiled by S&P Global Market Intelligence.
Braze didn't have any news of its own sufficient to move its stock meaningfully. It's clear, then, that the company was caught up in the general software rout. If we have to zero in on one particular catalyst for this, it's the second-quarter results published on Wednesday by .
Source Fool.com
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