Salesforce.com, Inc. (NYSE:CRM) is on the move again. The stock jumped over 5.5% today and continued to go up after hours. The favorite among cloud computing plays plummeted last week after Equinix (EQIX) a data centres services company guided lower in the revenues department. Investors have begun bringing their money back into the cloud computing stocks as they shrugged off the idea that perhaps Salesforce.com and other cloud plays may not be affected in the same way as Equinix was.
Salesforce.com employs cloud computing concepts to help companies save money on storage space, electricity, and cooling for example, buy moving their data to a central cloud server, which is essentially shared. Salesforce.com also runs its own software to aid companies in customer relationship management. Salesforce provides statistics and methods of communication to allow its clients to operate at maximum efficiency.
The stock price closed at $105.47 in yesterday's trading.
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