WDAY

Workday, Inc.

stock all instruments

+0.0

net board stance what this means

185.87

-5.1% · close 2026-09-08

+4% / +32% / -20%

1m / 3m / 12m

-89%

vs SPY since 2022-12-03

54%

of 52w range · -25.0% off high

—

hit rate as primary

Where we stand — 0 live ideas

No active idea holds this ticker. Anything below is history.

Where the winds are blowing

NET BOARD STANCE, LAST 43 EPISODES — rising = the besties are building this position, falling = abandoning it. Replayed from score_events; an idea counts from birth until its window closes.

PRICE VS SPY OVER THE SAME WINDOW, % — did the talk lead the tape or follow it?

Who's pushing which way

each voice's net push ON THIS TICKER — their most recent stance per idea × the idea's direction × strength, so supporting a bearish idea pushes down. Not conviction (that lives on the idea); this is direction of travel per person. what w= means

Sacks w=0.77 tech

1 idea (0 live) · last heard E146

-2

pushes down

Chamath w=0.90 tech

1 idea (0 live) · last heard E151

-2

pushes down

Track record on WDAY

No closed window has used this ticker as its primary play, so there is no scored record here yet. Adjacent plays are listed but never scored.

idea	call	play	verdict	R	α	closed
🤖 SaaS seat contraction — net revenue retention goes below 100%	▼ SHORT	adjacent	MISS	-94.1%	-110.8	2023-12-03

The tape — what was actually said

every capture on any idea holding WDAY, newest first · quotes verbatim, timestamps deep-link into the episode

Chamath support ×2 ▼ on 🤖 SaaS seat contraction — net revenue retention goes below 100% E151 · 2023-10-27 ▶ 52:31

if you are at 100% net dollar retention, okay, which means that you're kind of treading water ... That company now comps to roughly three to five times ARR

Sacks support ×2 ▼ on 🤖 SaaS seat contraction — net revenue retention goes below 100% E146 · 2023-09-22 ▶ 31:04

I think Jeremy Ball's substacks showed that the average growth forecast for SaaS companies for the next 12 months had been cut roughly in half. ... That meant they were buying a lot less software on a per-seat basis. So I think we've been through, call it a B2B or enterprise recession.

Sacks support ×3 ▼ on 🤖 SaaS seat contraction — net revenue retention goes below 100% E141 · 2023-08-11 ▶ 1:02:00

But this is the worst software recession we've been in. I think since the dot-com crash. I mean, the buyers have been laying off employees by the thousands. And since software has bought on a per-seat basis, the market has really condensed.

Sacks support ×3 ▼ on 🤖 SaaS seat contraction — net revenue retention goes below 100% E134 · 2023-06-24 ▶ 3:26

And then the thing that has happened over the past year is that sales have been hit. Every software company that I know is re-forecasting down, it's so much harder to grow. Customers are consolidating vendors, sharpening their pencils. Seed expansion has been replaced with seed contraction.

Sacks support ×2 ▼ on 🤖 SaaS seat contraction — net revenue retention goes below 100% E130 · 2023-05-26 ▶ 1:12:52

And I think that startups are absolutely seeing that in their sales right now. Sales are slipping. It's taking longer.

Sacks support ×3 ▼ on 🤖 SaaS seat contraction — net revenue retention goes below 100% E108 · 2022-12-16 ▶ 1:06:00

Okay, look, there's going to be three major sources of slowdown for software companies next year. Number one, new business is going to dry up.

Sacks support ×3 ▼ on 🤖 SaaS seat contraction — net revenue retention goes below 100% E106 · 2022-12-03 ▶ 1:28:51

I think this vicious cycle for the next year or so where seat contraction becomes the norm instead of seat expansion.