$ASAN: CEO just bought $350M of the stock? Is this bullish? via /r/wallstreetbets #stocks #wallstreetbets #investing

$ASAN: CEO just bought $350M of the stock? Is this bullish?

Any $ASAN investors on here? They just announced their Q2 earnings and it's up 18% after hours but still down 49% from March and 85% from their peak in Nov 2021.

During the Q2 earnings release, they announced that the CEO of Asana (Dustin who is also the co-founder of Facebook) just put in $350M into the company by buying 19M Class A shares. (Source: https://www.businesswire.com/news/home/20220907005985/en/Asana-Announces-350-Million-Private-Placement)

He now owns 43M Class A stock or 41% of the float for ASANA. (Source: https://www.marketwatch.com/story/asana-stock-rallies-more-than-10-after-beat-and-raise-quarter-11662582811?siteid=yhoof2)

Earlier this year, he spent over $1B buying Asana stock over a 6 month period. His average price was above $56/share. As of AH closing, $ASAN is at $22/share. https://www.fool.com/investing/2022/02/13/asana-ceo-buys-1-billion-of-company-stock/

Is this bullish or is Dustin the world's biggest bag-holder?

Submitted September 08, 2022 at 12:45AM by Original-Baki
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