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Why Salesforce Stock Fell 15% in August

TheMotleyFool

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Why Salesforce Stock Fell 15% in AugustPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.theapi.app/temp/bee95973-d201-429b-849e-52867059bd1a.png

Shares of Salesforce (NYSE: CRM), a cloud-computing veteran, were pulling back last month after the company cut its guidance in its second-quarter earnings report. Broader macroeconomic pressure also seemed to weigh on the stock in the second half of the month, and shares finished down 15% according to data from S&P Global Market Intelligence.

As you can see from the chart below, Salesforce mostly tracked with the S&P 500 through the first half of the month but diverged on the earnings-driven sell-off on Aug. 25.