Shares of software companies are trading lower amid a rise in Treasury yields.
Portfolio Pulse from Benzinga Newsdesk
Shares of software companies, including APPS, AUR, IFBD, PATH, PRCH, RTC, S, SCWX, and U, are trading lower due to an increase in Treasury yields, which typically makes the high-growth tech stocks less attractive to investors.
January 03, 2024 | 5:21 pm
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NEGATIVE IMPACT
Digital Turbine, Inc. (APPS) shares are trading lower as rising Treasury yields make growth stocks less attractive.
Rising Treasury yields often lead to a shift away from growth stocks like APPS, as investors seek more yield-generating investments.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Aurora Innovation, Inc. (AUR) shares are down with the broader software sector amid a rise in Treasury yields.
As Treasury yields rise, growth-focused stocks like AUR become less appealing, leading to a decrease in share price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Infobird Co., Ltd (IFBD) is experiencing a decline in share price as the tech sector reacts negatively to increasing Treasury yields.
Higher Treasury yields typically reduce the attractiveness of tech stocks like IFBD, leading to a potential sell-off.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
UiPath Inc. (PATH) shares are trading lower in line with the software industry's downturn caused by the uptick in Treasury yields.
The increase in Treasury yields is leading to a decrease in the share price of growth stocks like PATH, as investors look for safer returns.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Porch Group, Inc. (PRCH) is seeing its shares fall as part of the broader decline in tech stocks driven by higher Treasury yields.
The negative sentiment in the tech sector, influenced by rising Treasury yields, is affecting PRCH's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Shares of RTC are trading lower as the software sector takes a hit from the increase in Treasury yields.
RTC's stock is impacted by the broader market trend where rising Treasury yields are making tech stocks less attractive.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
SentinelOne, Inc. (S) shares are down, mirroring the software industry's reaction to the rising Treasury yields.
The increase in Treasury yields is causing a sell-off in growth stocks like SentinelOne, leading to a decrease in its share price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
SecureWorks Corp. (SCWX) is facing a downturn in its stock price as the tech sector reacts to the rise in Treasury yields.
As a part of the tech sector, SCWX's share price is negatively affected by the rising Treasury yields, which make growth stocks less desirable.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Unity Software Inc. (U) shares are trading lower as investors move away from tech stocks due to the rise in Treasury yields.
The upward movement in Treasury yields is leading to a decline in Unity Software's stock price as the market sentiment shifts.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80