![]() ![]() As Covid-19 became part of our everyday reality, though, shares began pushing a resistance ceiling of $24. Right before the pandemic melted the market, DBX was trading above $19. In my previous write-up, I mentioned that Dropbox stock had come full circle. But for some strange reason, it’s not making sense on the technical front. As Moadel puts it, “Given the world’s irreversible trend towards distributed work and collaboration, the reward-to-risk balance of Dropbox stock becomes increasingly favorable.”įundamentally, this narrative makes perfect sense for DBX. Collectively, our nation rolled up its sleeves and got to work - remotely.Īnd that - as InvestorPlace colleague David Moadel suggests - brought the upside catalyst pointing favorable at DBX. In large part, this was thanks to good old-fashioned American resourcefulness. Of course, though, the market soon bounced back up from the March doldrums, sending many companies on an upward trajectory. And for a brief moment, I was right to be cautious. Therefore, investors would likely shift from a risk-on sentiment to risk-off. The world was facing an unprecedented health threat. ![]() As such, I believed it didn’t matter that Dropbox was relevant to the next-generation workplace. ![]() Nevertheless, Covid-19 represented a once-in-a-century disruption. ![]() In that sense, the company is similar to Adobe (NASDAQ: ADBE) or Microsoft (NASDAQ: MSFT) - all three platforms allow people to work from just about anywhere. Yes, DBX represented an important solution for gig workers. In February, I argued for investors to be cautious against Dropbox stock. Before we get into it, let’s back up for a moment. ![]()
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