Sunday, May 17, 2020

Upwork UPWK Company I like, Call Options



Upwork's Website

First time in a while I found company with great growth potential and fair valuation. Probably I wouldn't notice UPWK as a stock worth interest, if not for high volume day and substantial jump in price, because, usually I don't look for companies with valuations over 1 P/S. So I checked fundamentals, and I realized UPWK has market cap of less than 1.5 billion which is very unusual in technology sector, it doesn't make any profit, has revenue growth +20%, that's still nothing special to get excited about, until you read some more to find that Upwork is a leader in the field of remote hiring, it has been around since 1999, much longer than any competitor and has new CEO (Hayden Brown) in place with vision to execute growth at higher rate, possibly at +50% pace.
So, the very next day I bought 2 call contracts with expiration June 19th and strike $12.5 at average price $1.55 per contract. Now, let's hope that Upwork continues on it's uptrend to make me some money :)

Upwork's weekly charts since it's IPO in 2018
 

Upwork Inc UPWK CEO Hayden Brown on Q4 2019 Results.... video.


 

 

7 comments:

  1. Seems like market will be gaping up this morning on rising oil/energy prices, hopefully this tide will affect UPWK in positive way too ....:)

    ReplyDelete
  2. Upwork Inc UPWK CEO Hayden Brown on Q1 2020 Results

    check this video on Youtube, interesting

    https://www.youtube.com/watch?v=AASSlkKz7F8

    ReplyDelete
  3. That's what I was afraid of, UPWK doesn't respond to overall market, my 2 call options are in the red for now and Upwork is trading at $12.87 or 6.20% down in mid day, while all other stocks are flying, DIA is up 3.52 %...... I wait couple of days until UPWK drops some more and June 19th, @ 12,50 calls trade below $50, then I will buy some and to average down to lower overall cost per contract...

    ReplyDelete
  4. all other stocks ADM, TAP, SSL, VNTR I am holding options on them, they are up, though not high enough ... IMO, tomorrow should be another day upward movement ?

    ReplyDelete
  5. I guess, technology and basic materials can not rally on same day after all... the other tech stocks were kind of sluggish too ...

    ReplyDelete
  6. I have that feeling that June 19th @ $12.50 calls will be losers, seems like this stock refuses to react to anything and keep trading in channel $12.00 and $12.50 a share, I am really tempted to get out of this trade at loss, but still with some money....with new lesson learn "never to invest any money in company which CEO appears on TV"

    ReplyDelete
  7. UPWK posted stellar earnings for 4Q 2020, pre-market trading around $62 after hitting intraday low $43.75 a day before

    ReplyDelete