Since the close a week ago Thurs through yesterday’s close, in a horrendous six trading days, “The Big Meltdown”, our some of our favorite SaaS stocks melted like this:
Alteryx, dropped from 149.68 to $80.98 (roughly 46%)
The Trade Desk dropped from $271.17 to $160.5 (roughly 41%)
Datadog dropped from $47.30 to $28.96 (roughly 39%)
Crowd dropped from $55.92 to $33.01 (roughly 41%)
But my little SaaS company that many on the board ridiculed and called a sham and told me would melt away, melted away as follows.
Red Violet dropped from $22.55 to $17.26 (roughly 23%).
That’s a pretty remarkable showing, considering. (In fact the only one that beat it was Zoom, which was “only” down 14% over those days). It’s just possible that Red Violet isn’t such a sham after all.
As I recall red violet hit 28 for most of a day just before the drop. This changes the numbers a bit.
Hi drag,
Well, you set yourself up for this.
If you wanted to figure from each company’s all time high close, at yesterday’s close:
Alteryx was down 48.3%
Trade Desk was down 48.5%
Datadog was down 42.1%
Crowdstrike was down 66.7%
Averaging down 51.4%,
While our little Red Violet was down 34.8% from its all time high close on that day it jumped after announcing its great earnings.
Now admit it, you would have expected that Red Violet would have fallen more from its high, and more during the meltdown, than our other companies, not so much less!
