Salesforce closed up 22.5% on August 27, a single-session move that is essentially unheard of for a company at its scale.
Four of the five biggest gainers were cybersecurity stocks, with Palo Alto Networks, Rubrik, SentinelOne and Fortinet all clearing double digits on the day.
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A coordinated move across cybersecurity names with different customer bases points to a shared catalyst lifting the group. Investors reassess valuations across the whole space when it moves in lockstep.
The losing side was quiet: Expedia led decliners at just under 5%, with Spotify, iQIYI, fuboTV and McDonald’s also lower.
