Why Asana Stock Popped and Dropped This Week
Shares of productivity tool Asana (NYSE: ASAN) jumped as much as 21.7% in trading early this week, according to data provided by S&P Global Market Intelligence, before plunging down to earth. From its Thursday highs, shares have fallen 15%.
The news early in the week was that founder and CEO Dustin Moskovitz bought about $79 million in shares, continuing a more than $1 billion buying spree of the company's stock over the last eight months. When insiders buy a company's stock, it can often be a bullish sign. And in the case of Asana, this is the founder who appears to be going all-in on the stock.
Image source: Getty Images.
Source Fool.com