Monday.com has been on my watchlist for quite some time now. It's hard to ignore a stock like MNDY given it's amazing fundamentals. First, it has delivered five consecutive quarters of triple-digit earnings. Not only that, the last three-quarters have actually been accelerating. Sales growth has also been growing consistently over the past two years. In addition, insiders currently own over 20% of the shares, indicating they too are bullish on Monday's prospects.
Monday's chart is equally impressive. After topping in late 2021, MNDY was decimated during the 2022 bear market. This makes sense since growth-oriented companies like Monday are often affected the most during times when rates are rising. However, MNDY has been one of the markets' strongest participants since last November. I particularly like the heavy volume buying which has been coming in- a sign that institutions are currently accumulating Monday. MNDY is forming a beautiful base right around the $200 level. I will be monitoring it for a buy in the coming weeks.
Risk right. Sit tight.
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