In his first "Executive Decision" segment during Friday night's Mad Money program, Jim Cramer spoke with Doug Merritt, president and CEO of Splunk Inc. (SPLK) , the big data company with shares down 11.5% over the past month as money managers make room for new offerings such as Snowflake (SNOW) .
Merritt explained that with more and more devices connecting to the Internet, companies need firm's like Splunk to help them capture all of this new data and make sense of it all. Soon, he said, every company will become a data company as they digitize their operations.
When asked about the flood of new companies in the big data space, like Snowflake, Merritt explains that while there are a lot of players, Splunk has been around for 15 years and is still among the fastest growing companies at its size.
In the weekly bar chart of SPLK, below, we can see a weakening picture. Prices have declined and are in a position to test the now cresting 40-week moving average line.