Fortinet's weak guidance causes sell-off among cybersecurity stocks, while MercadoLibre shares are rocketing higher after stellar quarterly results.
Growth stocks took a beating over the past year or so, as rising interest rates and recession fears eliminated investor risk tolerance. Nvidia (NASDAQ: NVDA) was one of the darlings of the pandemic bull market. Its price-to-sales ratio peaked close to 35, and its forward price-to-earnings (P/E) ratio swelled to 75.
Zscaler (ZS) closed the most recent trading day at $153.50, moving -1.01% from the previous trading session.