Splunk Stock Sinks as CEO Steps Down. One Analyst Says Its Time to Buy. – Barrons

Splunk stock is sinking after the company announced that its CEO is stepping down.

In a press release Monday morning, Splunk (ticker: SPLK) said CEO Doug Merritt was stepping down and would be replaced on an interim basis by Graham Smith, Splunk chairman of the board. No reason was given for his exit, which comes seven months after its chief technology officer, Tim Tully, resigned.

“As…

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