tech

March 5, 2026

Cloud stocks jump, head for best day in nearly a year despite broad market declines

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.

Cloud stocks jump, head for best day in nearly a year despite broad market declines

TL;DR

  • The WisdomTree Cloud Computing Fund (WCLD) gained 2.7% on Thursday, on track for its best day since April 24.
  • Okta and Wix.com led the gains with an 8.4% pop, while MongoDB and Intapp rose around 7%.
  • Okta's rally followed its better-than-expected fourth-quarter results, although its first-quarter guidance was weak.
  • Despite Thursday's gains, cloud stocks remain under pressure year-to-date, with the WCLD fund down about 16.2%.
  • Concerns about AI disruption have weighed on traditional cloud and SaaS companies throughout the year.
  • Analysts from JPMorgan and UBS highlighted Okta and Zscaler as companies likely to withstand AI-related threats and benefit from the technology.

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