Dear community, there has been another rattle in the depot. This time $OKTA (+3.02%) unfortunately. Still up, but with a disappointing return. The share was once up more than 50% in the portfolio.
Reasons for the sale are easy to find. Okta does not look incredibly cheap for its growth and competition is increasing. Until now, I saw Identity Access Management (IAM) as a highly profitable niche. Unfortunately, the niche is no longer a niche when Microsoft becomes active. Although they have had a competing product for decades, they haven't really bothered with it. In the meantime, however, MSFT has upgraded and can use its platform strength with Azure to woo existing customers much better.
Although I believe that the market will be big enough for both players in the long term and Okta also has plenty of unique selling points, I don't think it's currently justified to maintain a pure play for such a special topic.
At the moment, the momentum is fully behind Okta, but as a precaution, I still prefer to sell now. The figures are due next Thursday and I don't want to take the risk of having to sell the position at a loss after all. The same applies to holding stocks over the weekend as long as Trump is president (he usually works more at the weekend than on weekdays)
The next to-dos are:
- $ILM1 (-1.49%) and $AFX (-0.61%) are very likely to leave us by the end of the year
- $PYPL (-0.13%) and $UNH (+0.33%) will continue to be monitored very closely, I am increasingly losing patience with PayPal in particular
- I will restructure my gaming portfolio in depth, with fewer stocks and less overall weighting. But I'll take my time with the details.
