The banking crisis is claiming another software stock

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The crisis that has roiled regional banks spread to another software company on Wednesday.

Shares of cloud-software company nCino Inc. NCNO, which focuses on the financial sector, plunged more than 10% in after-hours trading Wednesday, after executives reduced their annual revenue forecast and guided for quarterly sales lower than Wall Street expected. The move follows a big downturn for Tenable Holdings Inc. TENB earlier this earnings season, which was blamed on banks holding off on spending as they ensure they won’t become…

Source
Las Vegas News Magazine

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