Why Okta Can Withstand a Tech Stock Crash
All of a sudden, tech stocks look jittery.
A combination of rising interest rates, tightening monetary policy from the Federal Reserve, and fears about the new omicron coronavirus variant have spooked dozens of high-growth stocks, many of which were big winners during the pandemic. After reaching an all-time high on Nov. 22 at 16,212.23, the tech-heavy Nasdaq lost 1,300 points, or 8% in less than two weeks.
ARK Innovation ETF, Cathie Wood's flagship ETF and a proxy for high-growth tech stocks, was down by more than 25% at one point over the last month.
Source Fool.com
