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Why PagerDuty Stock Plunged 29% Last Month

TheMotleyFool

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Why PagerDuty Stock Plunged 29% Last MonthPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.theapi.app/temp/ec495607-1e17-40ee-a41d-7726313a9707.png

Shares of PagerDuty (NYSE: PD), the cloud-based IT management platform, were sliding last month after the company's second-quarter earnings report wasn't enough to meet investors' lofty expectations. The following day, the stock tumbled again on a broad sell-off in cloud stocks, and the stock finished September down 29%, according to S&P Global Market Intelligence.

As you can see from the chart below, the stock plunged early in the month and remained volatile for the duration of September.