Every holding finished red as a rate-scare tech sell-off (Nasdaq −1.9%, software ETF IGV −3.0%) hit high-multiple names hardest; traders now bet on further Fed hikes and RBC cut tech to market weight (CNBC).
Movers with a reason#
- NET ($324.33, −6.72%) | software/high-multiple de-rating, no company-specific news; ~12% off its $370 52-week high | Hold (medium): thesis intact, valuation is the risk into Nov 5 earnings
- RDDT ($148.60, −4.31%) | same sector/macro pressure; third straight decline | Hold (medium): volatile into Oct 29 earnings
- META ($737.54, −3.27%) | gave back two days of Muse-driven gains in the tech sell-off | Hold (medium): earnings now a week out
Company news worth knowing#
- META will report Q3 results after the close on Oct 21, a week earlier than previously listed (Meta IR).
Quiet: MSFT −1.8%, AMZN −1.7%.
Earnings: META Oct 21; MSFT Oct 28; AMZN and RDDT Oct 29; NET Nov 5.