Salesforce.com, inc. (NYSE:CRM) is having an incredible day in the market today, and for good reason. A classification by the government is giving the stock a boost and really exciting investors. Of course, our partners at Trade Ideas were the first to alert us to the upward movement. At the moment (11:19), CRM is trading at $85.73 per share after a gain of $2.76 per share (3.33%) thus far today.
DoD Grants Salesforce Government Cloud Positive Classification
As mentioned above, salesforce.com is having a strong day in the market today, and for good reason. The company was recently granted a positive classification by the US Defense Information Systems Agency and Department of Defense. The classification grants Salesforce Government Cloud a provisional authorization at Impact Level 4, or simply IL 4.
Because of the new classification, governmental agencies and members can use Salesforce Government Cloud for controlled unclassified information. Ultimately, this allows CRM to work with US Government organizations and hold information, including personally identifiable information as well as protected health information.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on CRM. In particular, we’re interested in seeing how the new classification from the US Government equates to profits for the company. We’ll continue to follow the story closely and bring the news to you as it breaks!
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