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CLOU - Salesforce.com: The Canary In The Coal Mine
Global X Cloud Computing ETF
It’s fair to ask whether Salesforce.com (CRM) might be the proverbial canary in the coal mine. I’m saying this because of yesterday’s earnings report and what it implies.
Salesforce.com, at a $165 billion market cap, is one of the largest “pure cloud players” out there. During the coronavirus crisis, these players as a group have distinguished themselves by having their stocks recover amazingly fast.
For instance, this is how the Global X Cloud Computing ETF (CLOU), a proxy for this group of stocks, did during the coronavirus epidemic: