Why Shopify, CrowdStrike, and Roku Slumped Thursday -- but Shouldn't Have
The broader markets slumped today as investors digested the latest unemployment figures. The jobless data suggests that the Federal Reserve Bank's campaign of rising interest rates -- its primary tool for fighting inflation -- may finally be having the desired effect. Unfortunately, it may not be enough to stop the Fed from increasing the pace and tenor of its interest rate hikes.
The news acted to drive down a broad cross-section of stocks, as Shopify (NYSE: SHOP) slipped 0.8%, CrowdStrike (NASDAQ: CRWD) fell 3.8%, and Roku (NASDAQ: ROKU) tumbled 4.2% as of 2:55 p.m. ET.
Even as the macro conditions remain uncertain, however, there were positive developments for each company.
Source Fool.com