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Investors’ interest in the software space is evidenced by the SPDR S&P Software & Services ETF’s (XSW) 18.5% returns year-to-date and 49.7% gains over the past year. While the weaker-than-expected third-quarter earnings of some tech giants and stock market volatility could keep the software industry under pressure in the near term, its long-term prospects look bright.
Software stocks Bakkt Holdings, Inc. (BKKT), Phunware, Inc. (PHUN), Waitr Holdings Inc. (NASDAQ:WTRH), and The Glimpse Group, Inc. (VRAR) surged more than 75% in price last month. Therefore, we think it could be wise to add these stocks to one’s watchlist.
