Why Atlassian Stock Skyrocketed 92% Higher in August and Why There's Likely More to Come
The workplace collaboration software specialist put fears of a SaaS-pocalypse to bed.
Overview
Shares of Atlassian (NASDAQ:TEAM) skyrocketed in August, gaining 92.2%, according to data supplied by S&P Global Market Intelligence. That's orders of magnitude higher than the 2.6% gains of the S&P 500.
The enterprise software specialist helped dispel the popular narrative that artificial intelligence (AI) would eliminate the need for its popular software-as-a-service (SaaS) offerings, sending the stock on a blistering rebound.
Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.