Salesforce stock value plummets, company loses nearly $50B in value in one day

San Francisco-based tech company Salesforce lost tens of billions in valuation this week, all after the company showed less-than-impressive growth in a quarterly financial report. Salesforce, which saw $31.35 billion in revenue in 2023, usually sees its stock hover around the $270 range. However, after the quarterly report was released, the stock took a deep dive. As of 4 p.m. on Wednesday, the stock value sat at $272.62. On Thursday morning, Salesforce's stock price opened at $221.

For a company like Salesforce, the choice to invest in stocks made great sense, until this week. This crash in stock value comes just two weeks after Salesforce CEO Marc Benioff wrote to stockholders about the "remarkable year of transformation" the company is experiencing.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Heineken pledges nearly $50 million investment for 'transforming tired pubs' into eco-friendly faces of resilienceHeineken said the investment is a demonstration of 'confidence in the resilience of the great British local in the face of uncertainty.'
Source: CBSNews - 🏆 87. / 68 Read more »