Exited my Veeva Systems short

Exactly one year ago I entered my Veeva Systems short with the thesis that the company would have limited growth potential going forward. Given that it would become apparent soon enough if this would be true I decided from the onset to hold to position for just one year. Unfortunately the company continued to show healthy growth this year with revenue up more than 50% in the latest quarter compared with the same period previous year. Luckily I still made a decent amount of money on my short since the share price dropped with a bit more than 25%. I guess that shows the attraction of shorting a highly valued stock. Even when the news is good it might not be enough. Or I just got lucky: that’s always a viable explanation too…

Disclosure

Author has no position in Veeva Systems

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