Jun. 27 at 2:34 AM
$ORCL As of yesterday, the past few weeks’ price action in
$MSFT and
$ORCL has been almost identical. It’s hard not to notice that Wall Street’s algos have been selling software stocks in sync.
The same pattern showed up in
$PLTR,
$ADBE,
$NOW,INTU ,CRM and SAP…. Nearly every major software name was hit by relentless algorithmic selling over the past 3 weeks, with almost all software tickers making fresh 52-week lows.
This selloff appears to have been driven far more by market sentiment and sector-wide positioning than by any meaningful deterioration in business fundamentals.
Once sentiment turns, don’t be surprised if the software sector stages a violent valuation re-rating rally from July. 🚀🇺🇸🚀
