Why Asana Stock Flopped Today
Shares of Asana (NYSE: ASAN) were taking a dive today. The project management software company posted better-than-expected results in its second-quarter earnings report, but investors still balked at the numbers. Asana is posting a wide loss at a time when the market has placed a premium on profitability.
As of 1:43 p.m. ET, the stock was down 13.6% on the news.
Revenue in the quarter rose 20% to $162.5 million, which was ahead of the consensus at $157.9 million.
Source Fool.com
