DoorDash Makes BofA List of Top Small-Cap Tech Stocks


Small-cap tech shares have struggled in current months, with the tech sector representing the No. 2 detractor from the Russell 2000 small-cap index to date this yr, after healthcare.

“Tech ranks in the middle of our small-cap sector framework on poor valuations, revisions and technicals,” Bank of America strategists and analysts wrote in a commentary.

“The backdrop of rising rates, inflation and growth concerns may remain an overhang near-term. But positioning risk is limited, and we are seeing some momentum in flows and in BofA upgrades relative to downgrades.”