Why Shares of Trimble Slumped in January

Shares in positioning technology company Trimble (NASDAQ: TRMB) declined 17.2% in January, according to data from S&P Global Market Intelligence. The fall comes in line with a general sell-off in technology stocks.

While there wasn't any fundamentals-based news to drag Trimble lower, the broader market sell-off inevitably causes investors to offload stocks on a relative valuation basis. In other words, if investors lower the valuation multiple they will pay for the Nasdaq index, then they will also reduce the multiple they will pay for Trimble.

Trimble's technology helps ensure process positioning on construction projects. Image source: Getty Images.

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Source Fool.com