Atlassian Is a Zombie Stock Set to Go to Zero, Noted Tech Bear Says

Atlassian stock is down 64% this year and one strategist says it has farther to fall.

Atlassian flags on building
(Image credit: Getty Images)

The tech bear who predicted the fall of WeWork (WE), Carvana (CVNA) and Rivian (RIVN) says application software company Atlassian (TEAM) is at risk of declining to $0 per share.

David Trainer, CEO of New Constructs, a research firm powered by artificial intelligence, is best known for being skeptical of some of the hottest IPOs of the past few years. So when he puts out a bearish call on a name like Atlassian, it's bound to generate controversy. 

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Dan Burrows
Senior Investing Writer, Kiplinger.com

Dan Burrows is Kiplinger's senior investing writer, having joined the august publication full time in 2016.

A long-time financial journalist, Dan is a veteran of SmartMoney, MarketWatch, CBS MoneyWatch, InvestorPlace and DailyFinance. He has written for The Wall Street Journal, Bloomberg, Consumer Reports, Senior Executive and Boston magazine, and his stories have appeared in the New York Daily News, the San Jose Mercury News and Investor's Business Daily, among other publications. As a senior writer at AOL's DailyFinance, Dan reported market news from the floor of the New York Stock Exchange and hosted a weekly video segment on equities.

Once upon a time – before his days as a financial reporter and assistant financial editor at legendary fashion trade paper Women's Wear Daily – Dan worked for Spy magazine, scribbled away at Time Inc. and contributed to Maxim magazine back when lad mags were a thing. He's also written for Esquire magazine's Dubious Achievements Awards.

In his current role at Kiplinger, Dan writes about equities, fixed income, currencies, commodities, funds, macroeconomics, demographics, real estate, cost of living indexes and more.

Dan holds a bachelor's degree from Oberlin College and a master's degree from Columbia University.

Disclosure: Dan does not trade stocks or other securities. Rather, he dollar-cost averages into cheap funds and index funds and holds them forever in tax-advantaged accounts.