Markets closed sideways but Zscaler, Inc., Asana, Inc., PowerFleet, Inc. drop and make it on this unflattering list of Friday's losing technology stocks.
A quick update: markets completed a mixed session Friday, as Nasdaq shed 0.18% and closed at 11,461. S&P 500 closed at 4,071.7, a 0.12% change.
While markets traded sideways Friday, some technology stocks suffered serious losses. Here is the list of top losers from Friday:
Zscaler | Closed Friday's session at $129
The Californian cloud security company is now trading 24.3% above the significant low ($116.25) it slumped to 26 days ago. So far in 2022, it has been under-performing the Nasdaq by 16.4%. The company has a market cap of $18.60 billion with an average daily trading volume of 2.87 million shares.
Asana | Closed Friday's session at $16.19
Having fallen 8 cents in 3 days, More of the same from Friday's session: after ending Thursday at $18.08, Asana declined to $15.2 Friday before closing at $16.19, thereby losing 10.45% in total.
PowerFleet | Currently down 6.72% at $2.5
Over the last 8 days, PowerFleet has fallen 19.87%. Friday's session continued the recent downtrend: early in Friday's session, PowerFleet dropped to $2.45 from $2.68 at the end of Thursday, before closing at $2.5. During the session, it lost 6.72%.
Daily trading volume (131,646 shares) was higher than the current multiday average of 56,779.