ETF Explainer: WCLD
The cloud computing industry ETF had a rough 12 months.
Each month, we look at an ETF selected by ETF.com based on its performance and importance to investors. This month, we consider the $944 million WisdomTree Cloud Computing Fund (WCLD), which had a volatile 12 months that resulted in a negative return. All the companies mentioned below are holdings in WCLD.
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MAR 8 Snowflake stock plunges almost 11% amid a widespread tech sell-off and in the wake of an earnings release reporting a $200 million operating loss.
APR 8 After Berenberg analyst Andrew Gasperi initiates coverage of Zuora with a $20 price tag and a buy rating, the company’s stock gets a 12% boost.
MAY 26 Security software provider Zscaler sees its stock spike 12% after reporting a 60% increase in earnings and beating consensus expectations.
AUG 25 Shares of Mimecast, a company focused on email security, surge almost 8% on news that the security will replace Cinemark Holdings in the S&P MidCap 400 Index.
NOV 9 New Relic stock skyrockets 38.5% after the company, which is changing business models, outperforms consensus expectations around revenue projections for the second quarter.
JAN 5 The Fed indicates it could raise rates in March, accelerating a sell-off in tech stocks, including cybersecurity firm Tenable Holdings, which was already in a multiday plunge.
Source: Bloomberg; data for 1/29/2021-1/31/2022.
