Although the tech space always offers pockets of innovation and growth, the uncertainty and flurry of questions about the economy’s broader direction are reasons investors are taking fewer risks on tech companies. Given this backdrop, it might be wise to steer clear of Porch Group, Inc. (PRCH), Phunware, Inc. (PHUN), and Datasea Inc. (DTSS).
After enduring steep declines last year, the first quarter of 2023 has brought a surprising turnaround for the tech industry. The tech-heavy Nasdaq composite index has gained 8.4% over the past three months. Outperforming the broader market, most tech companies have been proactive in their approach to the new investing landscape, emphasizing cost discipline and profitability.
