Which is pointless since they had a great earnings report, were cash flow positive for the quarter and raised their guidance. Additionally they mentioned in the call that no sector is more than 20% of their customers so they are diversified if a certain sector really tanks - like tech. They have 180 million in the bank so won't need credit markets any time soon and gradually approaching profitability.

Disclaimer: I have a position in NEWR and added today at the 21 level. This will certainly bounce back in the comings months or years. Will add if the irrationality continues.