CRM
Salesforce, Inc.
stock NYSE

AMD is up around 3% today after the company named former Salesforce executive Ariel Kelman as its new chief marketing officer.

Kelman will lead global marketing and brand, bringing prior leadership experience from CRM, AMZN, and ORCL.

Traders are watching how the hire fits into AMD’s push around high-performance and AI platforms.

Another round of company write-ups taken from Substack within the last week.

Not my work - sourced from Giles Capital's weekly compilation: [https://gilescapital.substack.com/](https://gilescapital.substack.com/)
# Americas
[**Rijnberk InvestInsights**](https://open.substack.com/pub/rijnberkinvestinsights) on [**Netflix**](https://rijnberkinvestinsights.substack.com/p/netflix-down-40-now-a-no-brainer) (🇺🇸NFLX US - US$347 billion)
Down 38% from its peak despite $9.5B in free cash flow and 325M subscribers. Warner Bros.’ acquisition bid signals the market undervalues what remains the dominant streaming platform globally.
[**Hidden Market Gems**](https://open.substack.com/users/218905452-hidden-market-gems?utm_source=mentions) on [**Salesforce**](https://sbeautiful.substack.com/p/never-buying-salesforce) (🇺🇸CRM US - US$182 billion)
After a three-hour meeting, the author found AI replacing multi-day workflows with 5-minute tasks. The market sees a legacy CRM vendor, but the data heritage moat tells a different story.
[**Guardian Research**](https://open.substack.com/pub/guardianresearch) on [**Boston Scientific**](https://guardianresearch.substack.com/p/guardians-bet-with-burry) (🇺🇸BSX US - US$113 billion)
MedTech leader dropped 17.5% in a single session on a missed electrophysiology metric while the rest of the business beat across the board. PEG ratio 0.93, lowest among peers.
[**Rijnberk InvestInsights**](https://open.substack.com/pub/rijnberkinvestinsights) on [**ServiceNow**](https://rijnberkinvestinsights.substack.com/p/servicenow-oversold-on-a-false-narrative) (🇺🇸NOW US - US$106 billion)
The market took 48% off ServiceNow on the AI-kills-SaaS narrative. Revenue grew 21%, RPO accelerated 27%, and at 21x FCF it’s the cheapest in years.
[**Value Don't Lie**](https://open.substack.com/users/5547617-value-dont-lie?utm_source=mentions) on [**Allison Transmission**](https://www.valuedontlie.com/p/quick-value-303-allison-transmission) (🇺🇸ALSN US - US$9.6 billion)
Dominant 80% market share in heavy-duty automatic transmissions with mid-30% EBITDA margins, yet trades at just 8.5x EBITDA. Has repurchased 65% of shares outstanding since its 2012 IPO.
[**The Coal Trader**](https://open.substack.com/pub/thecoaltrader) on [**NRP**](https://thecoaltrader.substack.com/p/adding-to-my-position-in-nrp) (🇺🇸NRP US - US$1.6 billion) **TOP PICK**
A simple idea with a clear catalyst: met coal royalty MLP approaching debt-free status by February. $200M in projected 2026 FCF translates to 8-9% distribution yields at current prices.
[**Rock & Turner Investment Analysis**](https://open.substack.com/pub/rockandturner) on [**Kingsway Financial**](https://rockandturner.substack.com/p/kingsway-financial-services-ceo-interview) (🇨🇦KFS US - US$360 million)
A CEO interview with the only publicly listed permanent capital vehicle for the search fund model. $620M in accumulated tax losses provide a tax-free runway for acquisitions compounding underneath.
[**Margin Of Safety**](https://open.substack.com/users/10859734-margin-of-safety?utm_source=mentions) on [**Aluula Composites**](https://www.marginofsafetyinvesting.com/p/aluula-composites-auua) (🇨🇦AUUA CN - CAD$91 million)
Pre-revenue composites maker with proprietary adhesive-free UHMWPE fusion technology, 15x stronger than steel by weight. Think Gore-Tex at its inflection point. 45% insider ownership and Michelin in the pipeline.
# Europe, Middle East & Africa
[**Compound with René**](https://open.substack.com/pub/renesellmann) on [**Edenred**](https://www.compoundwithrene.com/p/deep-dive-revisiting-edenred-eden) (🇫🇷EDEN FR - €4.8 billion)
A 60%+ drawdown on Brazilian regulatory fears when Brazil represents just 19% of revenue, and only half of that is regulated. A judge has since suspended the reform for Edenred.
[**Nordic Edge**](https://open.substack.com/pub/nordicedge) on [**Vend Marketplaces**](https://nordicedge.substack.com/p/vend-marketplaces-vend-q4-2025-earnings) (🇳🇴VEND NO - NOK 39 billion)
Norwegian classifieds operator where the Adevinta stake covers half the market cap. Core business delivered 34% EBITDA margins and double-digit ARPA growth while the market fixates on AI disruption fears. (Q4 2025 Earnings)
[**Robin Research**](https://open.substack.com/users/21810349-robin-research?utm_source=mentions) on [**VUSION SA**](https://robinresearch.substack.com/p/vusion-sa-frvu) (🇫🇷VU FR - €2 billion)
Global leader in electronic shelf labels at under 8% market penetration with Walmart as anchor client. Founder-CEO led, highest quality score across all companies this week. The retail digitisation play.
[**Waits**](https://open.substack.com/users/87777872-waits?utm_source=mentions) on [**Ramsdens**](https://swearengenenterprises.substack.com/p/casas-de-empeno-en-reino-unido-5) (🇬🇧RFX LN - £130 million)
UK pawn shop operator riding the gold tailwind. Precious metals at 29.5% of gross profit with gold past £4,900/oz. Loan book up 12%, new stores planned. In Spanish but worth reading.
# Asia-Pacific
[**Best Anchor Stocks**](https://open.substack.com/users/108739794-best-anchor-stocks?utm_source=mentions) on [**Nintendo**](https://www.bestanchorstocks.com/p/reading-between-the-lines) (🇯🇵7974 JP - ¥9.8 trillion)
Switch 2 is the fastest-selling console in history at 15M units, yet the market focuses on early-cycle hardware margins. Real earnings power arrives when blockbuster titles hit that installed base. (Earnings Update)
[**Tailwind Holdings**](https://open.substack.com/users/310566413-tailwind-holdings?utm_source=mentions) on [**Shoei Co**](https://favonahathaway.substack.com/p/an-112-yield-no-debt-and-75-returns) (🇯🇵7839 JP - ¥96.9 billion)
Premium helmet maker averaging 74.7% ROIC since 2016 with zero debt and an 11.2% owner’s yield. Consistent pricing power and a niche global monopoly. Rare quality at a reasonable price.
[**Mr Deep-Value**](https://open.substack.com/users/113017890-mr-deep-value?utm_source=mentions) on [**Shinko Shoji**](https://www.mrdeepvalue.com/p/shinko-shoji-analysis) (🇯🇵8141 JP - ¥29.5 billion)
Classic Japanese net-net at 0.7x NCAV with 40% of assets in pure cash. Post-Renesas restructuring generated a ¥32B cash influx now being returned via 13.6% shareholder yield and aggressive buybacks.
[**AmsterdamStocks**](https://open.substack.com/pub/amsterdamstock) on [**Densan**](https://amsterdamstock.substack.com/p/densan-3640-the-most-one-sided-riskreward) (🇯🇵3640 JP - ¥9.6 billion) **TOP PICK**
Japanese municipal cloud migration at EV/EBIT 1.8x with operating margins expanding from 6% to 20%. Over 200 municipalities migrating by Q4, a structural margin metamorphosis hiding in plain sight.

Brilliant! I have been eyeing NOW and CRM but have been suffering from "shaky hands syndrome". LOL

MSFT CRM AMZN GOOG

I’m personally interested in TEAM, NOW, CRM and also QLYS.

I have been spending some time lately looking into Veeva Systems and wanted to share my thoughts on why it might interest those of us who focus on quality compounders. I realize that VEEV is rarely the type of stock that shows up on a traditional deep value screen given its multiples, but after reviewing an analysis of their 2025 outlook, I believe the current entry point is quite attractive when weighed against their growth rate and competitive advantage.
From my perspective, the strength of the thesis lies in Veeva’s position as the mission-critical operating system for the life sciences industry. They have built a massive moat through their industry-specific cloud architecture, and the switching costs for their clients are incredibly high. I am particularly impressed by their transition from being a CRM provider to becoming a holistic partner through the Veeva Vault platform. Their expansion into R&D and clinical trials is now a more significant driver for the business than their legacy commercial segment.
I also find their financial discipline to be a major selling point, as they maintain high operating margins and a debt-free balance sheet while self-funding their innovation. While the stock isn't "cheap" in a Ben Graham sense, I think it is undervalued relative to the durability of its 20% compounding potential and its defensive cash flows. For those of us willing to pay a fair price for a wide moat and top-tier management, I see this as a rare opportunity to pick up a high-quality asset at a non-speculative valuation.

## 📈 52-Week Highs:
The 52-Week Highs list shows stocks that have reached their highest price point in the past 52 weeks during the trading session.
| Symbol | Name | Price | Year High | Market Cap |
|:-------|:-----|:-----:|:---------:|:----------:|
| [TSM](https://marketrodeo.com/asset/TSM) | Taiwan Semiconductor Manufacturing Company Limited | $355.41 | $359.59 | $1.8T |
| [WMT](https://marketrodeo.com/asset/WMT) | Walmart Inc. | $129.02 | $131.79 | $1.0T |
| [XOM](https://marketrodeo.com/asset/XOM) | Exxon Mobil Corporation | $151.13 | $151.41 | $637.4B |
| [CVX](https://marketrodeo.com/asset/CVX) | Chevron Corporation | $182.55 | $182.82 | $365.0B |
| [CSCO](https://marketrodeo.com/asset/CSCO) | Cisco Systems, Inc. | $86.78 | $87.25 | $342.9B |
## 📉 52-Week Lows:
The 52-Week Lows list shows stocks that have reached their lowest price point in the past 52 weeks during the trading session.
| Symbol | Name | Price | Year Low | Market Cap |
|:-------|:-----|:-----:|:--------:|:----------:|
| [CRM](https://marketrodeo.com/asset/CRM) | Salesforce, Inc. | $194.03 | $185.73 | $184.7B |
| [ADBE](https://marketrodeo.com/asset/ADBE) | Adobe Inc. | $266.90 | $262.95 | $111.7B |
| [BSX](https://marketrodeo.com/asset/BSX) | Boston Scientific Corporation | $74.12 | $74.08 | $109.9B |
| [NOW](https://marketrodeo.com/asset/NOW) | ServiceNow, Inc. | $103.87 | $98.00 | $108.6B |
| [ADP](https://marketrodeo.com/asset/ADP) | Automatic Data Processing, Inc. | $226.62 | $224.93 | $91.7B |
**Source:** [52-Week Highs-Lows](https://marketrodeo.com/market-movers?tab=highs-lows)

Hoping for some more green this week.
Or I will be assigned CRM and more this Friday lol.

Few weeks back I encountered a huge moron in public and he was yapping how he works at CRM. Guy sounded beyond dumb and it was agony sitting there listening to it. I even joked to myself I should’ve shorted just 100 shares for fun afterwards. Seemed to be a clear sign of over-hiring.

Well I made new positions in U and TTWO. I think that’s overblown.
SNOW I trust because my neighbor is an account manager and a buddy works at CRM so I hear about it a lot.

CRM is only afloat because of marketing. The whole fucking product suite sucks.

Your pricing model isn’t the problem - storing other people’s contact data is. Treat this like a normal CRM SaaS: the customer owns the leads (data controller) and you process/store them to run the service (data processor). Contracts vs subscription won’t materially reduce risk. What reduces risk is fundamentals: store the minimum, strict tenant isolation, encrypt in transit + at rest, least-privilege admin access (ideally 2FA), basic audit logs, and simple export/delete + retention rules. LLC/insurance help later, but solid data handling and security design from day one is what actually protects you!

He picked the perfect time to just ship from CRM, down nearly 50% from highs 😓

Not just TEAM, I have a whole list of undervalued companies I've been buying recently:
TEAM, WDAY, NOW, ZM, CRM, ADBE, INTU,

Not going to fact check it myself but Gemini says CRM, RUM, S, and NCNO have.

Guidance came in low. I'm just glad it didn't pull CRM down with it.

IDK about "chaos space".
I'm trying to use my own expertise for a contrarian play. My experience tells me that CRM is sooooooooooo deeply embedded in an enterprise, that all the company's workflows and integrations are based on it, sales leads and managing the sales pipeline ...
Do you know how very very hard it is to move away from that? What kind of plan you need and the kind of approvals from everyone across the org?
It is beyond baffling that SaaS is getting murdered as they are, but people are panicking.
It's time to buy when there's blood in the streets and people are emotionally selling. Be greedy when others are fearful.
I sold some deep OTM Puts on ADBE and MSFT. Premiums are fat and if I get my strike I'd have gotten an amazing deal.

THANK YOU.
That's super basic and yet true.
The **worst** is that people don't even project for 5 years. They seem to think the present will be how things are 5 years from now. And it's wrong. AI will continue to improve, and do more and more things, which will require less and less software (especially the expensive, SaaS kind).
Do people really think that in 2031, people won't be able to do things with AI only in a few minutes that so far required hours of work with bloated expensive software like CRM, Adobe etc? They can already do that with the use cases you have identified, and we are barely 3 years after the release of Chatgpt in Nov-2022 - which if you try to go reuse it was a horribly bad model, and has improved by leaps and bounds.
You don't value stocks retrospectively, you value them * prospectively*. And a lot of software names' DCF value likely collapsed if you realistically assume that their pricing power and revenue recurrence (as well as margin profiles) will likely collapse. Even assuming a 30% probability of this happening justifies the correction we saw over the past week.

Puts on CRM, let the ship drown. 5y and still down in price.

CRM's product can be replicated with AI in a few weeks and it would have none of the parts customers hate about CRM's products. This is a fact. That does not mean CRM goes to zero, however.