What's Going On With Oracle Stock Thursday?
Portfolio Pulse from Nabaparna Bhattacharya
Oracle Corporation (NYSE:ORCL) shares are trading lower in the premarket session on Thursday following the announcement of plans to open two Oracle Cloud Regions in Morocco. These regions aim to support digital transformation in Africa and modernize Moroccan public services.
May 30, 2024 | 12:00 pm
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Oracle Corporation shares are trading lower by 2.48% in the premarket session after announcing plans to open two new Oracle Cloud Regions in Morocco. This expansion aims to support digital transformation in Africa and modernize Moroccan public services.
The announcement of new cloud regions in Morocco is a strategic move for Oracle, aiming to support digital transformation in Africa. However, the immediate market reaction has been negative, with shares trading lower by 2.48% in the premarket session. This could be due to investor concerns about the costs and risks associated with the expansion.
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