Datadog Drops 6% and Snowflake Slides 4% as IGV Sinks 3% in Software Rotation
Updated
Updated · Yahoo Finance · Sep 2
Datadog Drops 6% and Snowflake Slides 4% as IGV Sinks 3% in Software Rotation
2 articles · Updated · Yahoo Finance · Sep 2
Summary
Datadog fell 6% to $211.29 and Snowflake lost 4% to $306.22, with Cloudflare also down 4%, as software stocks led a midday selloff.
IGV dropped 3% to $103.06 while QQQ rose 0.2% to $709.20, signaling money was leaving software specifically rather than technology broadly.
Snowflake's post-earnings eve weakness and Datadog's decline without any fresh headline pointed to profit-taking in crowded high-beta names, not company-specific news.
Datadog's 65% year-to-date gain and Snowflake's 46% advance had left traders with ample room to trim positions, underscoring how stretched winners remain vulnerable to rotation.