2024-05-24 19:10:20 ET
Summary
- We revisit our short call on Asana from a year ago and show how it worked.
- An updated review of the financials shows there is a lot more downside left in the stock.
- Recommend investors sell or short the stock in view of the high GAAP losses.
Introduction
A year ago, we published an article recommending investors sell or short Asana, Inc. (ASAN). We said then that the stock chart looked like a downward dog, but the downward part still had a long way to go. Since then, the stock has lost a third of its value , while the Nasdaq 100 ( QQQ ) is up a stunning 30%. The S&P is up 25%, not counting the 2% in dividends along the way. So if you were seeking alpha, the 60% outperformance hasn't been too shabby!...
Read the full article on Seeking Alpha
For further details see:
Asana: Update Of A Short Call Shows Significant Downside Remains