Sell: Workday, Inc. (WDAY)
From Cabot Growth Investor
Updated from Wall Street’s Best Investments 814, February 13, 2019
We have nothing greatly against Workday, Inc. (WDAY). It’s certainly not the worst chart out there, and business-wise, the company is doing fine. But our biggest thought with WDAY is that it’s not a real leader. After the recent drop, it’s no higher now than it was in late February, even as many cloud software peers remain resilient. We wouldn’t be surprised to see it do fine going forward, but we decided to take our profit (in two stages—half last week, half on a special bulletin Monday evening) and move on.
Michael Cintolo, Cabot Growth Investor, www.cabotwealth.com, 978-745-5532, June 6, 2019