TSP Weekly Tech Stock Update—March 16, 2024
This Week: New TSP Portfolio addition, more cybersecurity M&A, HCP buyout speculation, ADBE stumbles, SMAR earnings review, MDB to step up sales hiring, MSFT new record high, GOOGL rebounds & more.
Hello from Rob…
—HashiCorp (HCP, $26.50—TSP Small-Cap Portfolio) shares jumped 12% after hours on Friday following a Bloomberg report that the company, a provider of multi-cloud infrastructure automation software, is considering its options, including a potential sale.
—Marvell Technology (MRVL, $66.87) stock this week traded down to $65.15, closing the gap on the price chart at $65.55 from February. The shares slipped below the 50-day moving average of $69.09, but held above the February low of $63.53. Despite Marvell’s expanding AI opportunity, the stock is off 22% from the 52-week high of $85.76 reached on March 7.
*Inside This Issue: Adobe Shares Tumble As AI Premium Dissipates
—Paid subscribers will receive the April 2024 PDF of Tech-Stock Prospector (TSP #266) via email on Tuesday, April 9.
—Paid subscribers have access to the TSP Market Overview and TSP Portfolio Updates sections inside this issue.