Why Snowflake, Datadog, and HubSpot Rallied Today
Shares of enterprise software stars Snowflake (NYSE: SNOW), Datadog (NASDAQ: DDOG), and HubSpot (NYSE: HUBS) rallied today, up 9.2%, 11.5%, and 9.1%, respectively, as of 12:56 p.m. ET.
There wasn't any material news out of these three high-growth stocks. As with so many market moves these days outside of earnings, macroeconomic factors -- especially those related to long-term bond yields -- told the story.
Yesterday was a brutal day for the markets and the technology sector, and these three enterprise software companies were no exception. However, they're bouncing back much more than other stocks that also fell yesterday. The two stocks mainly responsible for yesterday's crash -- Target and Walmart -- are actually down again today.
Source Fool.com
