This Super Software Stock Has Almost Doubled Since I Bought It in April.
Here’s Why It Has Room to Run
Atlassian (NASDAQ: TEAM) developed a suite of software products designed to foster collaboration and productivity for its enterprise customers. There is Jira, which helps software development teams manage their projects, and then there is Confluence, which is a digital town square where employees can discuss work and share operational updates. Atlassian stock was trading at over $300 at the beginning of 2025, until Wall Street formed the view that artificial intelligence (AI) was about to decimate the software industry.
As a result, by April this year, the stock had fallen to as low as $57. That’s when I got interested, and I added it to my portfolio at around $58. I don’t have a crystal ball; I simply felt Wall Street was overreacting to the potential threat of AI, especially because Atlassian was successfully using it to make more money.