Published on 4 Dec 2021 on Simply Wall St. via Yahoo Finance
This article first appeared on Simply Wall St News.
Extreme valuations often bring the growth companies into peculiar situations. Optimism is contagious, often causing multi-bagger parabolic moves, yet prices rarely stay up there for long.
Such is a case with Asana, Inc. (NYSE: ASAN), a growth stock that had a valuation over US$30b, before crashing over 50% in a matter of weeks, as the decelerating revenue spooked the investors.