This sell-off has been beautiful all sorts of stocks but among the worst-hit group are the cloud plays September the cloud was the sexiest story around you had all these fast-growing enterprise software companies that were saving their customers a fortune because long-term cloud-based software is a lot cheaper than buying programs and storing them on your own services that’s what’s.

Called on Prem on-premises very very bad I’ve been telling you this for a long long time now september/october tend to be very difficult months for stocks that are winners a matter of fact winners have.

Been getting obliterated but one because we’re approaching the end of the year the fiscal end.

Of the year for money matters and they like to take profits rather than having them taken away by the way the last four days of October seasonally very strong because they’re done with the selling which brings me to work day one of.

Our faves the cloud-based software company helps businesses save money by automating all sorts of Human Resources payroll and financial management jobs you know.

I think this the world of this story but in many ways work day the stock well let’s say it marked the high for the group at the beginning of September the company reported terrific quarter its stock got slammed anyway that’s the tale and three weeks ago work they held a very bullish analyst day and once again the stock ahead in fact the darn thing has come down $28 or more from then eighteen percent one eighty percent from September highs again this weakness has very little to.

Do with fundamentals which we know are excellent like all growth stocks work day tends to become less.

Attractive to big institutional investors when the Fed won’t stop talking about inflation because inflation erodes the value of the company’s long-term Ernie’s the actual company though is still doing great and that’s what we care.

About I may have money in fact they recently acquired adaptive insights.

That’s a cloud based business planning platform for one point five five billion over the summer you know what I think this could be an important acquisition because it broadens the whole spectrum of what work they can do for you but do not take it from me earlier.

Today we had a chance to check in with a neo butchery he’s the co-founder and CEO of workday and Tom bogan he’s the CEO of adaptive insights now it’s the newest subsidiaries take a look real first congratulations Tom congratulations when I look at this deal.

It is not so-called a lot of money but I think it brings a lot of scale can you define how much this means in terms of new clients and in terms of ups upsell sure.
Well for us it was a lot money.

Right I know but I think it’s gonna bring a market got this much bigger I.

I hope so we had this vision for for enterprise applications that starts with planning moves to execution moves to analysis and that’s how business works you come up with a plan you execute against that plan you analyze the results and you do it all over again we had tried to do planning on our own but came to.

The conclusion that we were several years behind companies like adaptive and needed to be.


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