This Technology Stock Just Crashed 35% in 1 Day. Time to Buy?

Investors in electronic design automation and engineering simulation software company Synopsys (NASDAQ: SNPS) recently saw their stock crash more than 35% on the day of its third-quarter earnings release. The decline prompted Cathie Wood's Ark Invest to double down on the stock by purchasing almost 16,000 shares for its exchange-traded funds (ETFs).Should investors follow Ark into buying Synopsys on a dip, or is this the start of a deeper move downward?Before delving into the details of the third-quarter update, it's worth examining the long-term investment case and why Ark is enthusiastic about the company. The case for Synopsys rests on the surge of interest in artificial intelligence (AI)-powered products and the growth of the market for companies developing custom-made chips to integrate into their products.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool