'Big Short' investor Michael Burry says Salesforce stock should've plunged 25% after big job cuts
"Big Short" investor Michael Burry thinks Salesforce stock should have seen a steep decline after announcing job cuts on Wednesday. Burry tweetedSalesforce stock rose 3.6% after the announced cut to its labor force on Wednesday. Shares slipped 2% on Thursday and has tumbled more than 40% from a year ago.
"The environment remains challenging and our customers are taking a more measured approach to their purchasing decisions," he wrote, adding that"the market doesn't fully appreciate how committed we are to growth and margins."
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