CNBC Daily Open: No one saw Oracle’s explosive growth coming
”Following its stunning growth projection, shares of database software maker Oracle surged 36% Wednesday, increasing its market capitalization by $244 billion. Larry Ellison, the company’s chair, who has held more than 1.1 million Oracle shares for over 25 years, saw his net worth jump over $100 billion. In one day.
Unfortunately for analysts who have been covering the stock, association with Oracle didn’t seem to grant them the gift of foresight — they themselves were “blown away” and “in shock” by the numbers.”
