I’d love to hear your point of view. What are we missing? Or do you think the market is wrong?
Saul, what is missing is comparing OKTA as an investment to any other stock that we could buy. I sold OKTA because it was slowing down, yes, but I chose to redeploy those funds into stocks that I thought would do better because, in large part, because they are growing fast (or in the case of NET because I think it will grow faster). We should always be comparing A versus B to determine where we prefer to allocate our capital based on what we think these companies will do going forward.
I sold OKTA on 7/22/2020 for about $210.
Those proceeds were put into FSLY (2/3) and NET (1/3) at about $80 for FSLY and $42 for NET.
Since then OKTA is up 15.7% while FSLY is up 59% and NET is up 28%.
I sold my remaining OKTA on 9/22/2020 for about $207.
I put the proceeds into PTON for a little under $90.
Since then OKTA is up 17.4% while PTON is up 41%.
This is just a snapshot in time but so far the decision to sell OKTA and redeploy into FSLY, NET, and PTON has been very net positive for the portfolio.
Chris