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Anonymous

29 Oct 2020

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Why might SAP shares plunge to biggest intraday slump since 1999 be good news to value investors given that it wiped off some $35 billion off its value?

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Sudhan

29 Oct 2020

Hi anon, according to Techcrunch:

"SAP announced its Q3 earnings yesterday, with its aggregate results down across the board. And after missing earnings expectations, the company also revised its 2021 outlook down. The combined bad news spooked investors, crashing its shares by more than 20% in pre-market trading, and the stock wasn’t showing any signs of improving in early trading."

Looks like COVID-19 hit the company hard in the short-term.

But the share price plunge might be "good" news for those investors who have a long-term view of the company and believe in the growth prospects of SAP.

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