Why Open Text Stock (NASDAQ:OTEX) Can Outperform the Market
Shares of Canadian tech information management company Open Text (TSE: OTEX) (NASDAQ: OTEX) have been tanking lately. What sparked an even more rapid sell-off recently was its August 25th announcement that it will acquire Micro Focus International (LSE: MCRO) for ~$6 billion. Shares fell about 14% following this announcement and have been falling ever since. With the stock substantially off its all-time highs now and with a ''Perfect 10'' Smart Score rating, however, OTEX stock is worth considering. Worth noting, stocks with perfect Smart Score ratings have historically outperformed the SP 500 (SPX), as shown in the image below.
Why Open Text Stock (NASDAQ:OTEX) Can Outperform the Market
Shares of Canadian tech information management company Open Text (TSE: OTEX) (NASDAQ: OTEX) have been tanking lately. What sparked an even more rapid sell-off recently was its August 25th announcement that it will acquire Micro Focus International (LSE: MCRO) for ~$6 billion. Shares fell about 14% following this announcement and have been falling ever since. With the stock substantially off its all-time highs now and with a ''Perfect 10'' Smart Score rating, however, OTEX stock is worth considering. Worth noting, stocks with perfect Smart Score ratings have historically outperformed the SP 500 (SPX), as shown in the image below.