With rising inflation and the potential for a recession, many businesses dependent on consumer spending have a reason to worry. This makes cybersecurity stocks a great buy today, as they are being sold off with their tech brethren, even though their businesses won't likely be affected. My top three cybersecurity stocks to buy right now are CrowdStrike Holdings (NASDAQ: CRWD), Cloudflare (NYSE: NET), and Okta (NASDAQ: OKTA).
The Nasdaq Composite (NASDAQINDEX: ^IXIC) currently sits more than 20% below its late-March high, and is down nearly 30% from November's peak. Here's closer look at three of the Nasdaq's most beaten-down stocks that could be near a bottom, and are ready to bounce back. Okta (NASDAQ: OKTA) is a cybersecurity outfit.
Yahoo Finance's Brian Sozzi lists the main reasons why tech stocks are struggling so much as of late.