Why These 2 Cloud Stocks Are Getting Pummeled Thursday
Watching day-to-day movements on Wall Street lately has been enough to make anybody feel a little queasy, as volatility has brought an abrupt halt to the big gains the stock market saw in 2020 and most of 2021. Concerns continued to linger Thursday morning, and that weighed on sentiment for how the trading session would go. As of 8 a.m. ET, futures on the Dow Jones Industrial Average (DJINDICES: ^DJI) were down 71 points to 34,780. S&P 500 (SNPINDEX: ^GSPC) futures had declined 12 points to 4,458, while Nasdaq Composite (NASDAQINDEX: ^IXIC) futures were down 52 points to 14,548.
The cloud computing arena has been a huge moneymaker for investors over the past several years, with many companies standing out from the crowd to produce amazing returns. However, the track record among cloud stocks hasn't been 100%. This morning, shares of Amplitude (NASDAQ: AMPL) and Fastly (NYSE: FSLY) posted large new losses after releasing their latest financial results, as investors didn't see enough positive news to help them regain their confidence about the two cloud companies' long-term prospects.
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Source Fool.com
