Salesforce.com Investors Hitting Exit Doors (CRM)

Posted in General, Options 
October 6th, 2010

Salesforce.com Inc. (NASDAQ: CRM) is getting pounded.  Maybe this is tied to Equinix and Autonomy, or maybe it is just based on exiting high-multiple and high-beta stocks.  Either way, money is coming out in droves.

At 12:42 PM EST we have shares down a sharp 9.4% at $103.20 on more than 5.8 million shares.  Average volume is only about 2.6 million shares and the 52-week trading range is $56.17 to $123.77.

Today’s trading volume compares to 5.2 million shares on SEPT. 1… and the last day shares were this active was around earnings when the stock traded 10.6 million shares on AUG, 20 when the stock rose to $112.75 from $96.41.

We are also witnessing very active trading in both the PUTS and CALLS in OCT-2010 expiration contracts.

JON C. OGG

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