Why Asana, Inc. (ASAN) Crashed On Wednesday

We recently published a list of Investors Are Dumping These 10 Stocks. In this article, we are going to take a look at where Asana, Inc. (NYSE:ASAN) stands against other worst-performing stocks on Wednesday. Asana Inc. fell by 20.47 percent on Wednesday to end at $15.11 apiece after it warned that its net retention rate could take a beating in the second quarter of the year. During its earnings call, Asana, Inc. (NYSE:ASAN) Chief Finance Officer Sonalee Parekh said that the company expects the current quarter to be pressured due to a combination of downgrade pressure, particularly in its enterprise and middle-market segments, and the technology vertical. A close-up of a computer monitor with an open work management platform software. He added that the company is confident that it would improve its net retention rate in the long run, but said that the near term will face headwinds. In the first quarter of the year, Asana, Inc. (NYSE:ASAN) narrowed its net loss by 37 percent to $40 million from $63.7 million registered in the same period last year. Revenues increased by 8.7 percent to $187 million from $172 million year-on-year. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.