Cloud Stocks Fall 6 Percent As Wall Street Falls
It was another bad week for the 2o SaaS and cloud companies we track, as the Talkin’ Cloud Stocks Index dipped another 5.97 percent for the U.S. holiday week ending November 25, 2011 amidst broader Wall Street losses. When the biggest winner of the week (Rackspace Hosting, RAX) saw its stock price rise less than three quarters of a percent, you know Wall Street had a bad week.
So rather than look at the big winners, we’re going to put the top of the bottom under a microscope and try to figure out if the index’s dip was merely due to global macroeconomic issues (example: European debt concerns) or cloud-centric issues. But first, it’s our standard disclaimer: We maintain the Talkin’ Cloud Stocks Index to analyze cloud hype against real-world performance. We don’t offer specific financial advice, and whether you buy, sell or hold is up to you and you alone.