moomoo ID:NaN
Log Out
Log in to access Online Inquiry

Sector Update: Tech Stocks Pares Losses but Unable to Fully Close Gap

MT Newswires ·  {{timeTz}}

03:59 PM EDT, 09/08/2022 (MT Newswires) -- Technology stocks were edging lower on Thursday, with the SPDR Technology Select Sector ETF (XLK) falling 0.2% and the Philadelphia Semiconductor Index gaining 0.9% this afternoon.

In company news, ShiftPixy (PIXY) rose 160% after the staffing software firm Thursday said it spun off its ShiftPixy Labs unit into a stand-alone company and list the virtual brands development company on the Nasdaq and Upstream stock exchanges following an initial public offering next month.

Asana (ASAN) climbed over 24% after reporting a nearly 51% increase in fiscal Q2 revenue, rising to $134.9 million and beating the Capital IQ consensus for the three months ended July 31 by $7.6 million. The workplace-management software firm also reported a smaller-than-expected Q2 net loss and it guided revenue for the current quarter and FY23 above analyst estimates.

Among decliners, Grid Dynamics Holdings (GDYN) fell 3.8% after the digital services company priced a $100 million public offering of more than 5.7 million common shares at $17.50 each, or 11.6% under Wednesday's closing price.

Bilibili (BILI) slid more than 15% on Thursday after the Chinese video-sharing website reported a non-GAAP Q2 net loss of 4.98 renminbi ($0.74) per American depositary share compared with a loss of 3.44 renminbi a year ago and missing the Capital IQ consensus expecting a 4.80 renminbi per ADS loss. The company also is projecting Q3 revenue in a range of 5.6 billion renminbi to 5.8 billion renminbi, trailing the 5.92 billion renminbi Street view.

This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeliness for any particular purpose of the above content.

Moomoo is a financial information and trading app offered by Moomoo Technologies Inc.
In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of Financial Industry Regulatory Authority (FINRA)/Securities Investor Protection Corporation (SIPC).
In Singapore, investment products and services available through the moomoo app are offered through Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS). Moomoo Financial Singapore Pte. Ltd. is a Capital Markets Services Licence (License No. CMS101000) holder with the Exempt Financial Adviser Status. This advertisement has not been reviewed by the Monetary Authority of Singapore.
In Australia, financial products and services available through the moomoo app are provided by Futu Securities (Australia) Ltd, an Australian Financial Services Licensee (AFSL No. 224663) regulated by the Australian Securities and Investment Commission (ASIC). Please read and understand our Financial Services Guide, Terms and Conditions, Privacy Policy and other disclosure documents which are available on our websites https://www.futuau.com and https://www.moomoo.com/au. Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd. and Futu Securities (Australia) Ltd are affiliated companies.