Why Salesforce Stock Plunged Today

Why Salesforce Stock Plunged Today

Shares of salesforce.com (NYSE: CRM) fell 8.9% on Wednesday after the cloud computing leader announced a blockbuster acquisition alongside its fiscal 2021 third-quarter results. Salesforce's revenue jumped 20% year over year to $5.42 billion, besting Wall Street's expectations for revenue of $5.25 billion. "We're rapidly moving to an all-digital world, where work happens wherever people are," CEO Marc Benioff said in a press release.