Pre-Release Readiness Stock of the Day: Nutanix
If and when the downed growth sector recovers, Sean Udal, CIO Of Quantum Trading Strategies Has An Issue To Put On Your Watchlist: The Cloud Software Company Nutanix Inc. (NASDAQ:NTNX).
Nutanix’s Fall from Grace: Unlike several growth tech companies that peaked in 2021, Nutanix hit its all-time high in June 2018 at $64.87. During the March 2020 collapse, the issue hit a low of $11.31. The rebound from this high ended in September at $44.50.
In Friday’s session, the issue bottomed for the recent decline at $28.16 and eventually ended the session at $29.04.
What to love about Nutanix: Udall began by describing the issue as having “the most secure software in technology, tons of value, and a billion dollar investment from Bain Capital.”
The last quarters have been very good and the subscription model and the subscription model are hanging on, Udall told PreMarket Prep.
He warned that “if you don’t have a safe haven in technology that can hold, then other technologies aren’t going to hold.
He concluded that while you’re not going to trade or invest in the issue, “it would be a good thing to keep on your screen if the markets keep falling and it holds, that’s it.”
The full chat with Udall can be found here, and his segment on Nutanix starts at 17 minutes and 20 seconds: