Why Datadog Fell Over 12% This Week

Shares of Datadog (NASDAQ: DDOG) sank 12.4% this week through 12 p.m. ET, even though there was little to no information coming from the company over the past five days. 

Yet since Datadog sports a very high valuation, it was taken down along with a lot of other promising growth stocks, as long-term interest rates rose amid hawkish Federal Reserve commentary.

Datadog has been one of the true all-stars of the enterprise software space. Its cloud-based observability tools have seen rapid uptake, resulting in the company's revenue surging by an impressive 84% last quarter.

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Source Fool.com