Great Ones, when I was a young warthog…
When he was a young wart … wait, wut?
Hey, now. I’m a sensitive soul, though I seem thick-skinned.
Remind us to never stand downwind…
Oh, the shame!
Anywho… Hakuna Asana (NYSE: ASAN). What a wonderful phrase.
Hakuna Asana … ain’t no passing craze.
It’s our problem free, work-management philosophy.
Hakuna Asana! Great, now you’ve got me singing it!
Catchy, ain’t it?
In case y’all aren’t familiar with Asana, the company specializes in workflow management software. That’s corporate speak for a messaging platform that allows you to schedule meetings, facilitate employee communication and manage all aspects of a project right there in the software.
It’s kinda like a high-powered Slack … or what Slack is becoming after Salesforce (NYSE: CRM) bought it out. In fact, Asana competes directly with Salesforce and Microsoft (Nasdaq: MSFT) in the corporate workflow management space.
Sounds exciting, right?
Oh, so exciting. Glorified online meetings? What’s not to like about that? /s
I feel you. But you might be a lot more excited about Asana if you’re an investor. Like really excited today, especially.
Why? Because Asana just killed it in the earnings confessional today. As usual, let’s take a gander at the numbers:
Loss per share: $0.34 reported versus $0.39 expected.
Revenue: $134.9 million reported versus $127.8 million expected.
Given Asana’s competition and continued growth in this so-called “challenging macroeconomic environment” — aka recession — those numbers look really, really good.
But as we all know, nobody cares about Q2 numbers anymore. Looking backward right now is certainly not a problem-free philosophy. Wall Street is all like: “What have you done for me lately?”
Disney into Janet Jackson? Really?
Hey, I don’t control the jukebox.
Luckily for Asana investors, the company isn’t just riding Q2 outperformance. No, sir!
The company also lifted its full-year guidance to between $544 million and $547 million. Wall Street was expecting full-year revenue of $535.5 million.
And if that wasn’t enough, CEO Dustin Moskovitz — no relation to Fievel Mousekewitz — was extremely upbeat on Asana’s future prospects:
Cash flow positive? In less than two years? Now that’s what I like to hear!
But about that $350 million in new capital… That has me a little bit worried.
Why? Because it came from CEO Mousekewitz … erm, Moskovitz. The definitely-not-a-talking-mouse CEO just bought $350 million worth of ASAN stock in a private placement — i.e., he bought it directly from Asana.
Now, I love the fact that Mousekewitz … sorry, Moskovitz … believes in Asana so much that he put down $350 million of his own money on the company. Maybe this is a good thing because it means Asana doesn’t have to mess with loans, or venture capital or any other outsiders trying to tell Asana how to operate.
But it just might be a bad thing if Asana had previously reached out to get a corporate loan and either didn’t or couldn’t get one.
Honestly, this is a minor concern for Asana investors. But it is a potential concern, so ASAN stockholders need to be aware.
For the time being, however, it’s Hakuna Asana full throttle as ASAN stock surged nearly 30% on the news.
So don’t get downhearted.
How did ya feel?
Every time that I…
Hey, Mr. Great Stuff! Not in front of the kids!
Editor’s Note: Like Investing in Oil 100 Years Ago
The energy crisis doesn’t look like it’s going away anytime soon.
But tech expert Adam O’Dell has found a little-known company that has developed new tech to access the largest energy source on Earth — and it could launch a new era of cheap, abundant energy unlike anything we’ve seen before.
This new source could produce five times as much power as the largest oil field … in just one year.
There’s still time to get in early, before things really kick off.
Meme & Get Memed
GameStop (NYSE: GME) reported earnings, and as your correspondent on the memier side of the market, I feel it’s our duty to look into this dumpster fire, whether you’re ready or not.
GME shot up 9% on the report, which might have you thinking the report was good, but GME was probably going to rally anyway.
Never mind that the report showed how the company’s losses actually widened on the quarter … and sales dropped … and GameStop’s cash on hand shrank … and it also has excess inventory.
But all that’s OK! Because those pitiful earnings still beat analysts’ low expectations, and we all know how accurate those analysts are with their estimates, don’t we?
There’s something else propelling GameStop’s shares today. On top of the company’s NFT marketplace that’s doing Bo Diddley squat, the company announced another partnership with crypto platform FTX to … sigh … sell gift cards in stores.
If “crypto gift cards” are what’s sending GME up today, clearly, the furor and fury over GameStop isn’t ending anytime soon. If you need more proof, just look at the sole reactionary comment on that Barron’s article:
Let me fill you in on a secret.
When you see someone so confident that there’s “no losing play” on a stock … and they’re basing this bullishness “just on fundamentals” and totally not on any meme-stock magic … they’re gonna have a bad time. Just wait.
On The Eve Of Greatness
Great Ones, I have three words for you: Electric. Air. Taxis.
Let’s break this down, while I … break down. Now, “electric” I get. “Air” makes sense. And I sure know what “taxis” are. But you put those three words together and just — what?
It’s provocative, Great Stuff. Gets the people going.
Take a look at this “electric air taxi” and tell me what you see…
I’ll tell you what you see. It’s a helicopter. “Air taxis” are helicopters. Period.
Electrifying them, however, is a whole new emissions-reducing story. And United Airlines (Nasdaq: UAL) is placing its bets that these electric air taxis are the new sliced bread … or something along those lines.
United is buying 200 helicopters from Eve Air Mobility, with the option to buy another 200 should the taxiing shebang take off. The airline also invested $15 million into the company, and deliveries for its vehicles should start in 2026.
This is on top of United’s other order for electric vertical takeoff and landing vehicles from Archer Aviation last month. Other airlines are set to follow suit because why should United have all the nice toys?
So chew on that one: By the end of the decade, you could be taking Uber Air to get groceries … as if getting in a stranger’s car wasn’t dicey enough.
I’m not sure I like the sound of this.
It’s An E-Jeep Thing
What’s this now?
Electric vehicles (EVs) that don’t look obnoxiously futuristic? Or drawn by a four-year-old?! I never thought we’d see the day.
While United is hyping everyone up over its helicopter taxis, us terrestrial folks just got a whole new set of EV options from major, non-Tesla automakers.
The first comes from Stellantis (NYSE: STLA) — aka the other other major automaker, with brands like Chrysler, Dodge, Jeep, Fiat and Peugeot.
As part of Jeep’s goal to corner the electric SUV market, it showed off a Wrangler-esque off-road SUV called the Recon and a luxury Grand Wagoneer. Even Chrysler’s getting an all-electric lineup by 2028.
I have to say, I rather like the look of that Recon. I wonder what it would look like upside down. Jeep owners will get it…
Anyway, as you’d expect, General Motors (NYSE: GM) wanted in on fun too, showing off its electric Equinox, which will start selling at $30,000 next fall. I don’t know if you’ve looked at new and used cars lately … but that’s cheap.
The subtext to all of these automakers’ announcements, however, is that Tesla (Nasdaq: TSLA) should be scared right now — very scared. The more these other EV makers glow up, the less Tesla sparkles, for investors and for EV buyers.
Tesla might give Tesla fanboys what they want … but Stellantis’ brands, GM and Ford (NYSE: F) are all giving what everyone else needs: more options and more practical, “normal” designs at cheaper price points.
That combination is what’ll actually get more people switching over to EVs. And I don’t see Mr. Cybertruck following suit anytime soon.
Because of this, Ian King believes EV sales will shoot up by 1,400% over the next decade. But there are just too many EV makers to know which ones will be successful over the long run.
That’s why Ian would rather invest in the company supplying a valuable material nearly every EV needs. Click here to learn more.
As Sweet As Android Pie
Apple (Nasdaq: AAPL) went full Granny Smith mode in yesterday’s widely anticipated Apple event: First it’s sour, then it’s … well, sourer.
In its ever-raging quest to convince the world of its supposed supremacy and further inflate its cult of personality, Apple decided to “stick it to Android” with its iPhone 14 drop … whatever that means.
You can get a pretty detailed run-down on Apple’s newest iPhone and Watch releases right here, but I’ll save you the bother: If you’re a fellow paranoid Android user, Apple wants to convince you to get an iPhone … by basically making the user experience as horrible as possible for iPhone users talking to Android users.
When you text an Android from iOS, your chats are in green, harder-to-read text boxes. Even Google (being Google) pressured Apple to change over to newer, better messaging systems like RCS instead of your normal SMS. But nope. No can do.
Apple doubled down on the fact that it doesn’t give a toss about making the user experience better, with Tim Cook saying: “I don’t hear our users asking that we put a lot of energy on that, on this point. I would love to convert you to iPhone.”
I mean, it’s to the point where people on Tinder will unmatch you if they see the green bubbles from an Android. (And no, before you get your hopes up, I’m not on Tinder. But I am on the internet and, you know … see other people complaining about Tinder.)
Now, people have always been hoity-toity and egotistical — especially when it comes to dating — but now Apple’s actively encouraging it, telling users to just “buy your mom an iPhone,” as if buying anything else would be equivalent to matricide.
Apple just keeps adding bricks around its walled garden ecosystem, but cutting people off from each other? That’s the kind of attitude that will ultimately drive some iOS users away from the brand.
Not many, mind you … but some.
What do you think, Great Ones? Do you have a stake in the “Apple vs. everyone else” debate? Would you drive the new Jeeps? And have you ever used Asana’s software?
Let me know in the inbox — write to us at GreatStuffToday@BanyanHill.com.
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