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Why Okta Stock Dropped This Week

Why Okta Stock Dropped This Week

Okta (NASDAQ: OKTA) investors had a rough week as their stock declined 15% through Thursday trading compared to a 0.4% increase in the S&P 500. Okta announced on Wednesday that sales increased 25% for the Q1 period that ran through late April. This expansion rate beat the high end of the guidance range that executives had issued back in early March and reflected strong demand among enterprises for its identity management services.