Upwork is a company that mainly makes money as their hired consultants make money. So the more employers hire people through the service the more revenue they generate. This could be problematic long term as after they hire a "temporary employee" because thats whats assumed through the program if they decided to hire them long term after their term is over then Upwork gets nothing. AND they just lost future revenue. PLUS
Over the past few years they have been in the hole.
We have a history of net losses, anticipate increasing our operating expenses in the future, and may not achieve or sustain profitability.
Quote from their SEC filing 10-K
I will be looking for a SHORT when it seems they have peaked.
RED LINES=DAILY support/resistance
PURPLE LINES= Weekly support/resistance
A lot more pricing information at those higher price points. What could've dropped the price is that they've had an offering so that they can manage extending the life of the company. More offerings means a lower price.
Over the past few years they have been in the hole.
We have a history of net losses, anticipate increasing our operating expenses in the future, and may not achieve or sustain profitability.
Quote from their SEC filing 10-K
I will be looking for a SHORT when it seems they have peaked.
RED LINES=DAILY support/resistance
PURPLE LINES= Weekly support/resistance
A lot more pricing information at those higher price points. What could've dropped the price is that they've had an offering so that they can manage extending the life of the company. More offerings means a lower price.
It looks like it has dropped quite a bit over the past few days prior to even hitting the weekly high (purple) which was not what I was expecting.
I will expect there a slow decline in the previously mentioned region.