Q3 Tech Stock Winners And Losers: Vertiv And Splunk Up, Quantum And Lumen Technologies Down
Here’s a look at the tech industry companies that saw the biggest share price gains and losses in the third quarter of 2023 including Vertiv, Splunk, Dell Technologies, Domo, Lumen Technologies and Quantum.
Q3 Stock Prices A Mixed Bag
The economic uncertainty that has plagued the U.S. economy overall in 2023, including across the IT industry, continued through the third quarter amid rising interest rates and unclear signs as to whether a recession is on the horizon.
The economic uncertainty was reflected in the stock prices of IT vendors. Among the 57 companies on the CRN watch list, 32 saw the price of their shares decline during the third calendar quarter (July 1 to Sept. 30) while 25 recorded share price increases. That’s a significant change from the first six months of the year during which only nine companies saw the value of their shares decline.
For the third quarter of 2023 the Dow Jones index was down 2.62 percent to 33,507.5 (its Sept. 29 close) while the tech-heavy NASDAQ was down 4.12 percent to 13,219.32.
Here’s a look at the biggest stock price gainers and losers in the third quarter of 2023. We start with the 10 biggest gainers, counting down to the IT vendor with the biggest stock price gain as of Sept. 29. Then we list the 10 companies whose stock price declined the most during the period, concluding with the IT vendor with the biggest loss.
The rankings are based on the closing share prices on June 30, 2023 and the closing share prices on Sept. 29, 2023. The market capitalizations are as of Sept. 29, 2023.