Does NET offer a hedge amid tech carnage?
Updated
Since hitting the market NET saw euphoria, a sharp selloff and then a grind up on a day where most cloud and saas plays (ROKU, NFLX, SHOP) got crushed and the market bled tech. It's likely to revisit $18.50 or even $18 again amid volatility but early signs are that NET made a good choice when they hit the market at a lower multiple. I am playing this as a swing trade but very much like the product suite and will hold long if I can get a sub $18 entry.
Note
There was also some very interesting action on day 1 where it sold off repeatedly into $18 and everything was bought. There may be a net under NET.
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