Why Zendesk Plunged This Week
Shares of Zendesk (NYSE: ZEN) were down about 16% after hours Thursday and 26% for the week, according to data from S&P Global Market Intelligence. While this was no doubt a rough week for shareholders, the company reported some solid numbers in its third-quarter earnings report.
However, in conjunction with that report came the announcement of a large acquisition. Apparently, Wall Street didn't think very highly of the deal, and shares reacted quite negatively.
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Source Fool.com
