I can't wait to see how he plays the blame game. Did anyone see the last interview with Cramer? Looks like MB lost his fitbit.
If you see any support here, i'd like to know where??? 2year low in play this week. Still plenty of shares to short as this had almost no shorts going into this disaster.
The drop is so steep and severe, it is almost impossible to say where this is in a month. 40's soon.
Take a look at the 1 yr. candlestick. Nobody in their right mind would step in here. I think another buck or two dampens any dead cat bounce and down we go again.
Maybe next week we'll see the 2 year low breached. I'm not a chartist, but there really doesn't look to be any support at all and we'll probably see redemptions and margin calls early next week. Benioff didn't step down from the COO position for no reason, he wanted to step aside for the bad news.
If that's the case, I'd have a really tight stop. Like saying, Monday there will be an instant pop for a quick trade. Don't want to get stuck into not believing what you've been believing all along. Happy trades.
You can keep thinking that there is something "special" about Salesforce. Something "special" that they do and nobody else is capable of. That they've built some kind of dynasty that can't be easily replicated. That the product is so good that it sells itself and they don't need a 4:1 ratio of Sales:R&D to keep the snowball growing. Investors are easily blinded by revenue growth at all costs and it's wrong.
Again, anyone can "disrupt" or take market share if they do it for much much less than their cost. There really isn't anything magical or mystical about the Salesforce model. They were just the first to do it when the legacy makers had no reason to sacrifice their cash cow until the threat was serious.
Rasta, if the technology is so great for companies to increase profits, why does Salesforce need such a large salesforce. Their sales and marketing costs are 4x their R&D costs. Or is it just that their R&D people are so much better than every other competitor that they are bulletproof? You brought up the term Ponzi scheme and if you might consider that a company that gives away a product for much less than it costs to produce in order to be able to encourage people to run the stock price up, then it is a little like a ponzi scheme.
Tableau and LNKD mainly and a realization that these profitless cloud names are being examined with a new light.
Haha, I covered tonight with a nice fat long awaited profit. Will be back in if this somehow creeps up by miracle.