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Why Okta Stock Was Down 7% Today

·2 min read
Why Okta Stock Was Down 7% Today
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Okta (NASDAQ: OKTA) shareholders lost ground to the market on Monday, with the stock down by 8.3%, compared to a 0.4% decline in the S&P 500 and a 1.2% dip in the tech-focused Nasdaq index. The session's decline continued a trend for Okta and many of its peers in the cloud and software services niches. Okta's peer Palo Alto Networks will report its latest earnings results in just a few days, and there are concerns about weaker profits ahead for its business in an era of rising interest rates and a slowing economic expansion.

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