Disappointing Q1 results for Salesforce and a weak outlook raised questions over how soon software makers will monetize generative AI products.
Many tech-focused growth stocks were dumped by Big Money investors last week.
Activist investor and board member Mason Morfit is bolstering his stake in Salesforce. Morfit, the ValueAct Capital head who has held a board seat since March 2023, discloses a purchase of 428,000 shares at an average price of $233.