Behind Salesforce Stock's Post-Earnings Slide

CRM is brushing off upbeat first-quarter results as well as several bull notes

Deputy Editor
Jun 1, 2023 at 3:46 PM
facebook X logo linkedin


Salesforce Inc (NYSE:CRM) is at the bottom of the Dow today, down 3.8% to trade at $213.94 at last glance. The company announced its slowest revenue growth since 2010 as companies cut back on cloud-based software offerings. This news has the stock brushing off its better-than-expected first-quarter results and no fewer than 16 price-target hikes from analysts.

Falling from last session's more than one-year high of $225.00, Salesforce stock is still up an impressive 62.1% year-to-date. The shares are also well above recent support at the 40-day moving average. 

CRM June1

So far today, 166,000 calls and 89,000 puts have been exchanged, which is 4.4 times the usual daily volume. The weekly 6/2 220-strike and 215-strike calls are the most active contracts, with new positions being opened at both. 

Options bulls were targeting CRM leading up to the earnings event as well. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 10-day put/call volume ratio of 1.95 ranks higher than 84% of readings from the past year. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI