ESDS Software shares hit 5% lower circuit, crash nearly 30% in 6 sessions. What's behind the selloff?

ESDS Software shares have fallen nearly 30% in six sessions, with a 5% drop on Monday. This decline is largely due to the expiry of a one-month shareholder lock-in period, which may have led to a surge in selling. The company's weaker sequential Q1 revenue and profit have also raised concerns about its valuation, making investors more cautious about holding onto the stock. This selloff could have implications for the broader market, particularly for technology stocks with similar valuations.

Why it matters

ESDS Software shares hit a 5% lower circuit, extending their losing streak to six sessions. The selloff is likely due to investor concerns about the company's performance.

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