Not much to comment here. This past week may have been the third three day mini-correction or rotation in the SaaS stocks. It has now been followed by two big up days. I already commented on the earnings calls. My biggest move was to reduce my AYX position in half. I now have only a 5% position (down from 15%). I will likely hold this for awhile as I think the company story is intact in spite of their slower growth during Covid and I will monitor. I put most of the funds from the sale into NET, FSLY, a little CRWD, and some in cash.
Earnings Calls: CRWD and ZM will release in a few weeks. I expect both stocks could run higher into earnings and then it will depend on how they do. Both companies absolutely crushed it last quarter…earnings releases I’ve scarcely ever seen in companies their size. Expectations are high and the stock prices are reflecting that optimism in today’s prices. Cheers!
