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However, rising investor optimism surrounding the tech industry has resulted in multiple start-ups entering the space. Wells Fargo (NYSE:WFC) Securities’ Chris Harvey characterized the software industry as being crowded. Also, with tech giants dominating the software space with breakthrough innovations and cost-effective software offerings, several lesser-known companies have been unable to capitalize on the rapid tech integration.
Given this backdrop, we think fundamentally weak software stocks ironSource Ltd. (IS), Support.com, Inc. (SPRT), Exela Technologies, Inc. (XELA), and Marin Software Incorporated (MRIN), which gained popularity amid the pandemic, are best avoided now.
