Asana CEO Moskovitz is buying the dip in his software company's stock during a roller-coaster year

  • 📰 CNBC
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 72%

대한민국 뉴스 뉴스

대한민국 최근 뉴스,대한민국 헤드 라인

Asana was the year's top tech stock until the correction hit in early November. CEO Dustin Moskovitz has used the pullback to add to his position.

Asana, whose software helps marketing, operations and sales teams manage projects and collaborate remotely on campaigns, has had a wild ride in 2021. At its peak, the stock was about five times higher than where it closed in 2020, far outpacing all other U.S. tech stocks.

Investors were jumping on a growth story. Year-over-year revenue expansion reached 72% in the second quarter and remained at a robust 70% in the third, when quarterly sales topped $100 million for the first time. While the stock is now trading at half its price from about a month ago, Asana is still up 148% this year, beating every other stock in the 58-memberContinuing their roller-coaster ride in 2021, the shares bounced backed this week, climbing over 7% on Wednesday and almost 9% on Friday.

"There's a very obvious answer, which is Dustin has been buying up shares," said Rishi Jaluria, an analyst at RBC Capital Markets who recommends holding the stock. "That's the big one. That is what's propping this thing up."Like other high-growth cloud companies, Asana is still far from generating cash and is racking up losses.

 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.
이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 12. in KR

대한민국 최근 뉴스, 대한민국 헤드 라인