Shares of Citrix, the cloud computing company, finished Thursday’s trading day ahead by 6.7 percent, making it TheStreet’s move of the day. The stock jumped after Elliott Management, which holds a 7.1 percent stake in Citrix, wrote a letter to its Board of Directors suggesting the company reduce expenses and sell some of its businesses. The letter said: ‘Citrix possesses high-value, strategic assets that we believe can be separated from the core Workspace Services segment: the GoTo franchise and NetScaler. Such separations would not only be meaningfully accretive to value but also would enable Citrix management to focus on improving the Company’s core operational execution.’ The activist investor said Citrix’s stock price could reach $90-$100 upon implementing the changes it purposed. The stock currently trades around $70 per share after rallying 7 percent on Thursday morning, following the release of Elliot Management’s letter. The stock has returned over 10 percent since the start of the year, with a market capitalization of $10.5 billion. TheStreet’s Scott Gamm reports from New York.
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