Tableau Software Inc (NYSE: DATA)
Tableau Software started the day off strong, and for good reason. Reports were surfacing that salesforce.com (CRM) was interested in buying the company. However, at the moment, the stock is taking a late day dive. Below, we’ll talk about what we’re seeing, why it’s happening, and what we can expect to see from DATA moving forward.
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What We’re Seeing From DATA Stock
As mentioned above, Tableau Software started the day off relatively strong, gaining around 6% early on. However, as we get later and later into the trading day, the gains we’ve seen on DATA stock are being cut off at the legs. Currently (3:28), the stock is trading at $48.80 per share after a gain of $1.57 per share (3.35%). While that may sound great, that’s a massive drop from just 8 minutes ago, when the stock was trading at $49.49 per share.
Why It’s Happening
The truth is that I have no idea why this is happening. As I type, the CNA Finance team is digging into the data and trying to find a reason for the declines. Nonetheless, while I don’t quite know facts yet, I can speculate.
We know that the reason for early gains on the stock had to do with the fact that CRM was interested in acquiring DATA. One of the first things that pops to mind is that there may be a report surfacing that CRM is no longer interested in DATA stock. However, this is just speculation.
Update: Reports are surfacing that the possible deal with CRM is indeed being delayed.
As investors and traders, we know that anything can happen ahead. Because the news is just breaking, we simply don’t have enough data to give a forward looking picture on the DATA stock trend in a timely fashion. Nonetheless, we’ll be watching it closely and updating you as the news breaks.
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[Image Courtesy of Wikimedia]