Sector Update: Tech Stocks Narrowly Lower Monday Afternoon

Last Updated: Monday, September 13, 2021 3:44 PM | MT Newswires

Technology stocks still were narrowly lower, with the SPDR Technology Select Sector ETF (XLK) Monday slipping 0.2%, although the Philadelphia Semiconductor Index was advancing 0.6% this afternoon.

In company news, Veritone (VERI) was 3.9% higher late in Monday trading after saying it will collaborate with technology company Recur to create non-fungible tokens for fans, beginning with video highlights of Pac-12 sports. Veritone is the exclusive licensing partner for Pac-12 Networks.

JFrog (FROG) rose almost 1% after the software development company Monday announced its purchase of device management software firm Upswift. Financial terms were not disclosed.

To the downside, Glory Star New Media Group (GSMG) fell 2.9%, giving back a 5.8% advance earlier Monday for the Chinese digital media company Monday that followed the company, saying it received a business license from China's Ministry of Commerce to operate a cross-border e-commerce business. China's General Administration of Customs also designated Glory Star as a "consignee of imported goods and consignor of exported goods," the company said.

CS Disco (LAW) tumbled nearly 15% after the artificial intelligence and cloud computing company disclosed plans for a secondary offering of 5 million common shares by several of its pre-IPO investors, including entities affiliated with Bessemer and LiveOak Venture Partners and Georgian Partners.

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