Killing Me Softly:

We recently brought up the topic regarding the abundance of healthcare IPOs, and the fact that it did not seem to be harming the sector at all. Below we take a look at a few of the software names that came public earlier this year. Notice there were four in the space of less than 2 months this summer. For the most part many have done well, of course it matters where one purchased them, but in 2019 most names that came public in the computer software arena have acted decent (12 of the 16 are higher than where they first traded, and 4 are lower including WORK DAO LINX and SCPL). Stocks like ZM are essentially right back to where it starting trading at the round 60 number. CRWD now trades 53% off most recent 52 week highs, not a typo. Of course no one can say conclusively if it is weighing on the space overall, as the IGV is lower by .7% this week so far, and if it declines would be the first time it fell in consecutive weeks since early August. The quick failure above the 230.97 cup base pivot looms large. Technology needs this group to step up.

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