Some components - most notably Shopify (NYSE: SHOP), whose bubble seems to have burst - have fallen even further.Īdmittedly, to some investors, the pullback seems like a long-awaited and much-needed correction. The index has pulled back 16% from July highs. Those returns have come down of late, however. That return dwarfed the 117% gain in the Nasdaq Composite. The BVP Nasdaq Emerging Cloud Index, which tracks mostly younger, “pure-play” cloud names, as of last month had gained 435% in six years. And cloud stocks have been among the best performers of them all. ![]() ![]() ![]() And that might well create an opportunity.Īfter all, this has been a market where growth stocks have outperformed value stocks for years. In a more nervous market, highly valued cloud growth stocks are pulling back.
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