Dropbox’s (DBX) Shares Risen 16% Since The Acquisition Speculation – BOV News
Home  »  Stock Gestures   »  Dropbox’s (DBX) Shares Risen 16% Since The A...

Dropbox’s (DBX) Shares Risen 16% Since The Acquisition Speculation

Shares of software company Dropbox Inc. (DBX) increased in price to $23.32 on Monday, December 14. Unconfirmed rumors of a potential sale of the business were the cause. The COVID-19 crisis reinforced the appeal of Dropbox technologies, and investors were likely to assume that major players were involved.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Sponsored


Reports of possible Dropbox sales were initially published in The Information, then on Twitter, and subsequently announced by Bloomberg, which led to stock’s growth. Rumors of potential Dropbox sales are not a phenomenon, because the services of the company are incorporated into the ecosystems of many of its giants.

Sources told The Information that Dropbox consulted investment banks and managers about the prospects of the business in 2021. The outcome could be the sale of the Dropbox business to Salesforce.com, Inc. (CRM) or Oracle Corp. (ORCL). The reality of transferring this business to Austin, Texas, is presented in support of the version about the selling to Oracle. At the same time, Dropbox’s CEO had earlier confirmed a move to Austin.

However, that this is just a rumor and it was a trend in 2020 to move management of its businesses to Texas. In particular, Douglas Merritt, the CEO of Splunk Inc. (SPLK), recently purchased an Austin home. Elon Musk has also announced a move to Texas in early 2020.

Dropbox remains, in any case, a provider of high-demand services for cloud storage. COVID-19, has accelerated key developments in digital transformation such as cloud migration and remote work. A variety of additional services, including mobile applications and data encryption, are also available at Dropbox.

The Dropbox Inc. (DBX) stock was down -1.05% on Wednesday at $24.61, but has gained nearly 16% since the rumor surfaced on Friday, December 11. Since start of the year, the value stock is up more than 37% that raised the market capitalization of the San Francisco, California-based company to $10 billion.

Leave a Comment

Your email address will not be published. Required fields are marked *

Sign up for our FREE Newsletter and get:
Sign up for our FREE Newsletter and get:

WE HAVE A GIFT FOR YOU

SPECIAL GIFT

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam

WE HAVE A GIFT FOR YOU

SPECIAL GIFT

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam