There's one thing in common in the current tech selldown
1) Revenue-driven companies that have not seen any profits yet are diving down by more than >30%. These are companies that are striving for high revenue generation through high spending and debt. Think Crowdstrike, Door Dash, Lemonade, Peloton, etc
2) Profit-driven and cash-rich Tech companies such Microsoft, Apple, or Google are still surviving and have yet to drop more than 20% from their high. (yes yes Microsoft drop 21 % before rebounding sharply)
Still, Tech is maybe not what you would want to be in right now... but, we can go for shorts.
How about, companies that have declining revenue (not even growing) and are unprofitable. The worst of both worlds.
Here we have Splunk who consistently miss estimate, declining revenue, and is unprofitable.
Please take note that this does not mean SHORT RIGHT NOW!, but rather to it is something to watchlist and take a short position when the time is right.