Ticker: Nasdaq (OKTA)
Industry: Internet – Cloud
Okta is the 4th best investment I had for 2019. I
say this with a pained look on my face because it would have EASILY been my
best pick of the year. Why do I say this
– well Okta is like the relationship that was going great but simply ended to
early. If I would have held onto my
shares Okta would have been in my Double Trouble club this year. To my
knowledge the only other stock that was in this club is Tesla and that is
because of its recent surge above $400 (Tesla, became a value play on my radar as
it dropped into the low $200s)
To aide in my discussion on Okta, I want to talk about the
Cloud and Cybersecurity. This is a space that I should know a little bit about
since my primary hustle is helping Fortune 500 companies manage complex risk
scenarios and a few of my focus areas are: IT and Cybersecurity. To stay
compliant for my two professional certifications that I hold in this space, I am
currently studying a few topics to receive educational credits. I pulled up a series of articles from 2010
that I was going to be quizzed on and one article was providing an overview of
disruptive technology that was going to change the IT landscape. This
technology was the: CLOUD. My first thought was I wish I had read this earlier and created the technology for my next investment. But the article pointed out the biggest risk to the move to the CLOUD. It made me think of this year's 4th best investment:
Okta addresses a major security problem caused by the increase of cloud based apps. If your app is available on the internet conceivably anyone could try to access and steal important information. Okta (a cloud access security broker) and other identify management platforms solving this problem are going to continue to do very well as companies look to restrict their crown jewels.
