In what has become a month-long fade in software stocks, there was again more red than green on our screen. Those that benefited greatly during the pandemic continued to be judged more harshly than those facing easier comparisons going forward.
Read MoreA promising development in the fight against COVID-19 seemingly prompted a rotation out of software stocks, many of which have performed exceedingly well since the broad market sell-off at the onset of the pandemic.
Read MoreCoronavirus continued to dominate the headlines, making for another volatile week in the markets. By week’s end, California had enacted a stay-at-home order with several other states expected to follow suit in short order.
Read MoreStamps.com (STMP) stole the show this week as shares basically doubled following the release of the company’s Q4 ’19 results. As noted in our recap, Strong Results and Guidance Remove Major Overhang, the big surprise was management’s outlook for growth in FY ’20 when many, us included, had assumed newly negotiated terms between the United States Postal Service (USPS) and its reseller partners would present a headwind to growth over a multi-year horizon.
Read MoreInstructure’s (INST) plan to be taken private by Thoma Bravo for $47.60 per share in cash faced further resistance this week as 7.5% shareholder Praesidium Investment Management issued an open letter to the Board of Directors expressing its view that the purchase price undervalues the company.
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