Why Palo Alto Networks Stock Lost 10% in August
Shares of Palo Alto Networks (NYSE: PANW) trailed the market last month, falling 10% compared to a 2% decline in the S&P 500, according to S&P Global Market Intelligence. The drop pushed shares below the returns of the broader market so far in 2019, but the cybersecurity stock is still up by about 10% this year.
Palo Alto Networks didn't make any major business announcements in August. Instead, investors pushed shares lower on expectations of a protracted trade war between the U.S. and China. The company sells hardware and software designed to protect networks from cyberattacks, and many of its hardware components fell under recent tariff rate increases.
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Source Fool.com
