Shares of software stocks are trading lower amid a rise in Treasury yields and amid overall market weakness.
Portfolio Pulse from Benzinga Newsdesk
Software stocks are trading lower due to an increase in Treasury yields and general market weakness. This trend is affecting a broad range of software companies across the market.
January 02, 2024 | 8:38 pm
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NEGATIVE IMPACT
ALTR's stock is trading lower in line with the broader software sector due to rising Treasury yields and market weakness.
ALTR, like other software stocks, is impacted by macroeconomic factors such as Treasury yields, which can affect investor sentiment and capital allocation.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
ANSS shares are down amid a sector-wide decline influenced by higher Treasury yields and overall market weakness.
ANSS is experiencing a decline as investors react to economic indicators that traditionally lead to a sell-off in growth stocks like those in the software industry.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Zoom Video Communications (ZM) is facing a decline in share price due to the negative sentiment affecting the software sector, driven by a rise in Treasury yields.
ZM's stock is sensitive to shifts in the broader tech sector, which is currently experiencing a downturn due to macroeconomic factors such as increasing Treasury yields.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50