One other day, one other 52-week low.
It appears that evidently as an alternative of discovering contemporary assist, the worth of software program corporations retains discovering new basement ranges to descend into. This afternoon, software program shares have been off 3% or so, whereas the broader Nasdaq Composite was down round 2% in midafternoon buying and selling.
The dramatic collapse within the worth of software program shares has been a key story beginning when the development started in late 2021. Since then, the worth of a greenback of software program income has been minimize, slashed, overwhelmed again, after which kicked within the shins.
How a lot decline are we speaking about? Right here’s one approach to look at the scenario, the chart of the Bessemer Cloud Index:

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