Why Salesforce (CRM) Shares Are Soaring Premarket Today - Salesforce (NYSE:CRM)

  • Starboard Value LP procured a stake in Salesforce, Inc CRM, with founder Jeff Smith saying a significant opportunity remains in the enterprise software maker.
  • Smith told David Faber the stake is significant without specifying the dollar amount, CNBC reported.
  • Also Read: Salesforce Shuts Hong Kong Office Amid Brewing US-China Tensions; Consolidates Partnership With Alibaba
  • Smith has remained a prolific activist investor even during the pandemic, calling for changes in Humana, Kohl’s, Mercury Systems, and others.
  • Shares of Salesforce have fallen more than 40% in 2022. The company in August gave a disappointing forecast for fiscal 2023, partly due to FX headwinds.
  • Starboard Value manages about $6.2 billion in assets, according to filings through the first quarter of 2020.
  • Price Action: CRM shares traded higher by 6.33% at $156.50 in the premarket on the last check Tuesday.

Image and article originally from www.benzinga.com. Read the original article here.