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SAP’s Coronavirus-Induced Stock Plunge: 5 Things To Know

The German software giant’s value plummeted overnight after the company revised financial projections downward in its Sunday earnings disclosure. Uncertainty in spending patterns caused by the global pandemic is driving down demand for its products.

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Coronavirus Crisis Saps SAP Momentum

German software giant SAP’s stock plummeted overnight, wiping $33.1 billion off its market capitalization in a loss eclipsing anything the enterprise software giant has seen in 20 years.

U.S. shares closed Friday on the New York Stock Exchange at $147.57, then opened Monday at a price of $118.20.

The roughly 20 percent decline in stock price was triggered by a Sunday Q3 earnings disclosure that projected financials, especially recurring revenue incurred through cloud services, significantly lower for the rest of the year than had previously been expected.

Here’s what you need to know about SAP’s very bad day.

 
 
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