2024-03-15 04:19:22 ET
Summary
- Salesforce has undergone a significant change in its business strategy and with that, I have also changed my rating on the stock.
- Following these changes and the recent rally in growth stocks, CRM delivered a total return of more than 70% over the past year.
- I go in detail on what the new strategy entails and what could be expected from the stock after the drastic increase in recent months.
Having a constant opinion on a stock over long periods of time is almost always the wrong thing to do when it comes to investing. Although there are examples of inherently bad business models and poorly managed enterprises, in the vast majority of cases, businesses evolve, strategies change and valuations swing from buy to sell territories....
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For further details see:
Salesforce: When A Drastic Shift In Strategy Serves Shareholders' Interests