Here's Why Splunk Dropped 14% in September
Shares of Splunk (NASDAQ: SPLK) fell 14.2% last month, according to data provided by S&P Global Market Intelligence, as some investors sold off tech stocks following months of gains in the sector.
Splunk's stock was up by as much as 50% this year until the very beginning of September, when investors quickly turned on tech stocks and began selling shares. The rapid sell-off of technology stocks pushed Splunk's share price down in the first few days of September and they stayed down for the rest of the month.
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Source Fool.com