In what would be some sweet relief for ASX investors after the horror start to the week, the S&P/ASX 200 Index (ASX: XJO) is in the green so far this Thursday, albeit not as enthusiastically as what we saw this morning.
At the time of writing, the ASX 200 is up 0.25% at just over 6,600 points. But that's a lot duller than what is happening to the Life360 Inc (ASX: 360) share price.
Life360 shares have lit up today. This ASX 200 tech share is presently up a healthy 3.8% at $2.72 a share after rising as high as $2.80 earlier this morning (up nearly 7% at the time).
So why are Life360 shares having such a strong day today?
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Why is the Life360 share price on fire this Thursday?
Well, it's got nothing to do with anything out of the company itself, seeing as we haven't gotten any ASX announcements from Life360 today.
But what we are seeing on the ASX boards is a significant recovery from many shares in the tech sector.
ASX tech shares are some of the best performing ASX shares this Thursday. As well as Life360's healthy rises, we are also seeing companies like Block Inc (ASX: SQ2), Appen Ltd (ASX: APX), Xero Limited (ASX: XRO), and Zip Co Ltd (ASX: ZIP) rising strongly.
As tech share investors would be well aware, this sector copped some nasty falls earlier in the week, alongside the broader markets. So it's perhaps no surprise that many ASX tech shares, including Life360, are now in the vanguard of the ASX 200's gains so far this Thursday.
The Life360 share price is down 72% this year to date and 25% over the past month.
This ASX 200 tech share has a market capitalisation of $508.5 million.
