What happened
Shares of Alteryx (NYSE: AYX) dropped 12.1% on Thursday without any company-specific news to merit the decline. Keep in mind the broader market plunged today over fears of an impending government shutdown and the Federal Reserve’s decision on Wednesday to raise interest rates. It appears, then, that Alteryx is once again being dragged down without cause.
Continue Reading Below
So what
Alteryx shareholders saw nearly the exact same scenario play out at the start of this week, enduring a more than 10% drop amid broader market turmoil. Incidentally, with Alteryx shares up over 140% over the past year as of yesterday’s close, I seized the opportunity this morning — just before shares plunged again — to single out the data science and analytics platform leader as a promising stock that has doubled and still has room to grow.
Now what
Investors would do well to note that when stocks retreat as a whole, high-flying tech names tend to get hit the hardest in the process — and fast-growing, recently IPO’d companies like Alteryx certainly fit that bill. Though it’s never fun to see those stocks fall for no reason apart from their recent meteoric gains, this kind of volatility is par for the course when investing in high-growth stocks.
10 stocks we like better than AlteryxWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has quadrupled the market.*
Advertisement
David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now… and Alteryx wasn’t one of them! That’s right — they think these 10 stocks are even better buys.
Click here to learn about these picks!
*Stock Advisor returns as of November 14, 2018
Steve Symington has no position in any of the stocks mentioned. The Motley Fool recommends Alteryx. The Motley Fool has a disclosure policy.
