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The Best Tech Stocks – And The Worst – In 2021 (So Far)

Here is a look at the 10 tech company stocks that recorded the biggest gains in the first half of 2021 – and the eight companies that saw stock price declines.

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Decliners No. 1: Splunk

CEO: Doug Merritt

Dec. 31, 2020 Close: $169.89

June 30, 2021 Close: $144.58

Change: -14.90%

Splunk, a developer of machine data management software, experienced a slowdown in its deal closing rate in 2020, which executives attributed to economic uncertainty from the COVID-19 pandemic and customers’ financial difficulties. That led to several quarters of revenue declines during the year.

But the deal closing rate rebounded in the fiscal 2021 fourth quarter (ended Jan. 31, 2021), CEO Doug Merritt said during the company’s earnings call in March.

In June Splunk announced a $1 billion investment from private equity investment company Silver Lake.

Splunk has undergone a number of changes in its management ranks this year. In April the company hired Teresa Carlson for the newly created post of president and chief growth officer. In May the company hired AWS executive Shawn Bice to fill the newly created position of president of products and technology. And in July the company appointed new chief marketing, chief product and chief cloud officers.

For the fiscal 2022 first quarter (ended April 30, 2021) Splunk reported revenue of $502.1 million, up 16 percent from $434.1 million in the first quarter of fiscal 2021. The company reported a net loss of $471.0 million for the quarter compared to a $305.6 million loss reported one year earlier.

Based on the June 30 stock closing price, Splunk’s market cap stood at $23.70 billion, down 14 percent from its $27.48 billion market cap at the close of 2020.

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