Over 1 Year Ago
1 Min Read

Shares of OKTA are trading -30% lower today. Here's why:

Okta Inc Cl A (OKTA) is trading -30% lower at $63.64 today. While it's a mildly glum day for the Information Technology sector in general, the stock is trailing it's peers.

-Okta released earnings results for its second quarter of fiscal 2023
-The company's adjusted earnings per share was -10 cents
-The company's forecast for long-term growth is lower than expected
-This may be a sign that the company is not doing well.

Okta Inc Cl A has been trading between a 52-week high of $276.3 and a 52-week low of $63.43. The stock has a market cap of $9.6 Billion.

Okta is the leading independent identity provider. The Okta Identity Cloud enables organizations to securely connect the right people to the right technologies at the right time. With more than 7,000 pre-built integrations to applications and infrastructure providers, Okta provides simple and secure access to people and organizations everywhere, giving them the confidence to reach their full potential.

As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:

SupChooch - 8 upvotes - source
Back from my week long ban. Its been torture not being able to shit on these apes. Current positions OKTA 80p 9/16 AAPL 150p 9/16 GME 30p $ 25p 10/21 AMC 8p 12/18

myironlung6 - 3 upvotes - source
I was going to buy $80 strike OKTA puts but didn't. AMA

animeandmanganerd - 3 upvotes - source

sandpipa78 - 3 upvotes - source
Die Okta die; got 70p, Looks like they are going to expire worthless

ElvanKing - 3 upvotes - source
Sold my BIDU puts early yesterday and sold my CRWD puts early today. I'm not gonna sell my OKTA puts early no more

sandpipa78 - 3 upvotes - source
Can Okta goto 60 pls

maxifuuu - 3 upvotes - source
lost 10% yesterday on crwd calls and everything today bc of okta calls, see you all in 2 weeks

maxifuuu - 3 upvotes - source
okta calls for earnings? i think so

heathermyllz - 3 upvotes - source
“Cramer-fav Okta” 💩

fries190 - 2 upvotes - source
Fuckin okta