Salesforce Jumps After Activist Investor Starboard Takes Stake

Jeff Smith
Photographer: Christopher Goodney/Bloomberg

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By Scott Deveau

October 18, 2022 at 1:42 PM UTC

This article is for subscribers only.

Salesforce Inc. shares jumped after news that activist investor Starboard Value has taken a stake in the company.

Jeff Smith, chief executive officer of the activist investor, announced the position at a conference on Tuesday. The shares gained as much as 6.8% as the market opened in New York, the biggest increase since July 27.