Fundamentally, why would someone buy a stock of a company that doesn’t eventually make a profit or offer some sort of dividend? Seems like Atlassian traded profit for staying power, but can they leverage that staying power to bring value to their investors?
People buy growth stocks because they can sell them for more tomorrow, it's often a bit of greater-fool theory in play.
For the successful companies that do grow into a dividend company, they often have valuations that far outstrip their eventual settling location at some point in the trajectory.
The idea is they'll eventually get purchased, or have a profit and dividends. But if you're growing so fast it makes sense to focus on that over profitablity. Most investors would rather have a 1.40, next year than a dollar today.
Directly related to that, if the expert they hired to the board that led them in this direction was from Great Plains it useful to note that Great Plains exited by being bought by Microsoft.
