Workday: What's going on?
I own shares of Workday and have been getting absolutely slammed recently. There is nothing in the news about why this dramatic decline is happening. Does anyone know what is going with WDAY, or is this just from the broad selloff of most tech companies?
I don't see a bottom on this decline and have been increasing my position on the way down, but I don't know what else to do. Trading strategies aside, does anyone have any insight as to why this company is declining over 5% a day?
Think I should stay in? I am getting absolutely screwed. I don't see a bottom. It tears through every support line I can find.
Another factor that doesn't help your position is that it's a pretty popular position among well-known funds. I noticed it showed up quite often when the last round of 13-Fs were released. So you're probably dealing with a lot of funds and investors who haven't done much, if any, work on the position. If these funds / individuals are looking to derisk, you bet a company like that is going to get axed real quick.
Seems like everyone is getting hammered in that space. I don't see a bottom at this point, but based on news reports that companies are axing their HR staff I would think that SaaS companies in the space should be okay long term.
Only you know your ability continue buying in during the slide and your risk tolerance.
Software, momentum stock, strong insider selling, etc. make for a very bad time right now
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