Here's Why Dynatrace Stock Plummeted 18% Last Month
Shares of Dynatrace, Inc. (NYSE: DT), a software intelligence platform company, fell hard last month on no company-specific news. Instead, investors were likely reacting to a broader market sell-off that sent the S&P 500 tumbling nearly 9% and the tech-heavy Nasdaq Composite down 13%.
Dynatrace shareholders were seemingly in panic mode throughout April, pushing the stock down 18.6%, according to data provided by S&P Global Market Intelligence.
Investors were in full-blown pessimistic mode last month as they processed news that the Federal Reserve was poised to raise the federal funds rate. When the Fed raises those rates, it typically causes the interest rates in other markets to go up -- and that has concerned investors.
Source Fool.com
