The global pandemic drove shares of technology companies higher as people all over the world were forced to work and live digitally. This included software company Splunk (NASDAQ:SPLK), but the company's stock has since halved. Is it time to buy now? Read more to find out.
- Software and cloud solutions
- An ugly trend since September 2020
- Earnings beat expectations in the last report
- Getting close to offering value
- Splunk’s Observability Cloud
As the money supply grows, inflationary pressures are bearing down on the US and global economies. The stock market is not the only place where inflation is causing asset prices to soar. Residential real estate, digital currencies, and commodity prices are all rising to multi-year or all-time highs.
Meanwhile, the global pandemic continues to cause issues. Bottlenecks in the supply chain have created a semiconductor shortage. Social distancing, working from home, and other side effects of COVID-19 have increased technology’s profile in our daily lives. The pandemic hastened the decline of retail business as it forced more consumers online. Technology companies experienced a boom in 2020, and Splunk, Inc. (SPLK) was no exception.