ASAN - Why Smart Investors Are Buying Asana Stock for the Long Haul
The stock for work-collaboration software company Asana (NYSE: ASAN) has had an impressive run since its direct listing in September 2020, with the price up nearly 141% compared to the S&P 500 's 39% gain over the same timeframe. That runup even includes a drop of approximately 56% over the past month or so as the broader technology sector has seen a pronounced sell-off.
This seemingly big recent sell-off doesn't appear to be related to Asana's business performance (more on that below) and is more related to broader market volatility at the moment. Asana has shown strong overall performance since its public markets debut, and there's still plenty of potential ahead, making it a smart addition to the long-term investor's portfolio. Let's discuss further why this stock is a great long-term bet.
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Why Smart Investors Are Buying Asana Stock for the Long Haul