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Did Domo Just Prove the Bears Wrong?

TheMotleyFool

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Did Domo Just Prove the Bears Wrong?Photo, wide shot, wide-angle lens, Software company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://img.theapi.app/temp/70b5df15-67cc-4a1b-af41-3596614daf77.png

Domo (NASDAQ: DOMO) has been a divisive stock since its IPO in mid-2018. The cloud analytics software provider went public at $21, more than doubled to the low $40s the following March, and subsequently tumbled back to the mid-teens.

The bulls were initially impressed by the disruptive potential of Domo's platform, which provides visualized data on a mobile app, and its robust growth rates. However, the bears noted Domo's growth was slowing, it was deeply unprofitable, and it faced fresh competition from tech giants like Salesforce (NYSE: CRM) and Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google.

Image source: Getty Images.

Source Fool.com

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