Cloud stocks jump, head for best day in nearly a year despite broad market declines
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The WisdomTree Cloud Computing Fund (WCLD) gained 4.5% on the session, putting the exchange-traded fund on track for its best day since April 24, 2025.
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In this article OKTA Follow your favorite stocks CREATE FREE ACCOUNT Traders work on the floor at the New York Stock Exchange, March 3, 2026. Brendan McDermid | Reuters Cloud stocks were a rare bright spot amid Thursday's market drop. The WisdomTree Cloud Computing Fund gained 4.5%, putting the exchange-traded fund on track for its best day since April 24, when it jumped 4.7%. Leading the WCLD fund higher was an 8.8% pop in Okta and Wix.com , and a roughly 7% gain in shares of MongoDB and Intapp . Sailpoint, an identity security tech provider for cloud enterprises, rose 6.5%. The rally in Okta comes after the identity security provider reported fourth-quarter results Wednesday evening that exceeded Wall Street's estimates. To be sure, the company, which has benefitted agentic artificial intelligence tools and the rise of related security needs, gave weak guidance for its first quarter. Thursday's pop puts Okta on track for its best day since April 9, when it gained 11.3%. Okta remains beaten-down amid the software crush, however, as the stock is down 9.8% year to date. Cloud stocks remain under pressure for 2026 despite the day's gains. The fund is down about 16.2% year to date. Shares of cloud companies have dropped this year as concerns about artificial intelligence disruption to incumbent software stocks plagued the group. — CNBC's Gina Francolla contributed reporting. Subscribe to CNBC PRO Subscribe to Investing Club Licensing & Reprints CNBC Councils Select Personal Finance Join the CNBC Panel Closed Captioning Digital Products News Releases Internships Corrections About CNBC Site Map Podcasts Careers Help Contact News Tips Got a confidential news tip? We want to hear from you. Get In Touch CNBC Newsletters Sign up for free newsletters and get more CNBC delivered to your inbox Sign Up Now Get this delivered to your inbox, and more info about our products and services. Advertise With Us Please Contact Us Ad Choices Privacy Policy Your Privacy Choices CA Notice T...
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