Why Palantir, Twilio, and Datadog Were on a Roller Coaster Today
Shares of Palantir Technologies (NYSE: PLTR), Twilio (NYSE: TWLO), and Datadog (NASDAQ: DDOG) were initially higher in morning trading after yesterday's brutal sell-off, but then fell again into the red throughout the day. Palantir was up as much as 3.4% before finishing the day down 2.4%, Twilio rocketed 6.4% higher before finishing the day down 3%, and Datadog rose 7.2% in morning trading before finishing the day just above breakeven.
All three companies have been volatile over the past few weeks, especially since each reported first-quarter earnings in recent days. Although each company beat estimates for revenue growth, with inflation and interest rates rising, investors are much more concerned about profits today -- and not adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), but rather real profits and cash flow, even when factoring in stock-based compensation.
With the Bureau of Labor and Statistics releasing the consumer price index (CPI) tomorrow, nervous investors are likely positioning ahead of new inflation news.
Source Fool.com
