The Megaport (ASX:MP1) share price is down 8% this week

Megaport Ltd (ASX: MP1) shares have lost more than 8% of their value over the last five days of trading, with no major news announced by the company. In fact, the Megaport share price had been dumped in the last four consecutive days of trading up until yesterday. 

Like other technology companies, Megaport shares seems to have been negatively impacted by recent fears the incoming Democrats in the United States Government will make sweeping changes to curb ‘Big Tech’, and tighten regulations in the industry in general.

By the market’s close today, the Megaport share price was trading 0.08% higher at $13.04.

What is Megaport and how did it perform in 2020?

Megaport is a global provider of elastic interconnection services. This…