How do you explain $30B software company WorkDay then? It’s the new economy, investors particularly in australia (like me in the early days) have struggled to learn from the success stories in more mature markets overseas. Amazon pioneered loss making and hyper growth to form an unbeatable strategy to dominate the market and repay shareholders in huge multiples despite continued cap raising and losses. I’ll say it again, today was a gross exaggeration by punters in the afternoon sell down, tomorrow will see more sense prevail and somebargain hunters snap up.
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