salesforce.com Stock Hits an All-Time High
Not for the first time in recent weeks, salesforce.com (NYSE: CRM) hit an all-time high on the stock market. The company's shares closed Monday more than 3% higher at $281.25 per share.
That's quite an achievement for a company that, unlike many fellow tech stocks, has been on the market for quite some time. Salesforce had its IPO in June 2004 and while a popular choice for investors looking to play the cloud services segment, it hadn't seen a series of dramatic price increases until recently.
The coronavirus outbreak changed that, however. The sudden and sharp rise in remote work situations strongly underscored the need for enterprises to put operations onto the cloud for outside-of-the-office access. Savvy enough to take advantage of the resulting demand, Salesforce's business grew commensurately, as did its prominence.
Source Fool.com
