Workday, Inc. (NASDAQ:WDAY) is among the stocks in focus as Jim Cramer reviewed the S&P 500’s top performers and the Nasdaq 100’s biggest laggards for the first quarter. Cramer noted that he “used to adore” the company, as he remarked:
The fourth-worst name in the Nasdaq 100 was a company that I used to adore. It’s called Workday, and its stock was down 40%. The company makes enterprise software for corporate finance and human capital management. Hey, you know what, this is another double whammy situation. It’s an enterprise software company, strike one, and it’s focused on human capital management tools, strike two. You know why?
Because the rise of AI means layoffs. I have a lot of respect for Workday. I’d like to say that the concerns here are overblown, but I tried to say that at the end of January, and then almost immediately, the company’s CEO, at that point, Carl Eschenbach, stepped down, and Workday reported a mixed quarter with plenty of issues for the bears to pick at. I’ve learned my lesson. Don’t try to be a hero in this group.
A technical stock market chart. Photo by Energepic from Pexels
Workday, Inc. (NASDAQ:WDAY) provides cloud-based applications designed to help organizations manage financial processes, human resources, and business planning.
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