Slack Stock's Roller-Coaster Move: What's Behind It
Shares of Slack Technologies (NYSE: WORK) saw some significant volatility early this week. On Monday, shares surged 15.4% before trading of the stock was halted. After market hours on the same day, however, shares fell 8%.
The stock's rise and fall both had to do with news that surfaced about IBM (NYSE: IBM) being the workplace collaboration specialist's largest customer. But the initial report about it made it sound like the deal just happened, with IBM recently rolling out Slack to its 350,000 employees. IBM is a significant customer, and it's a nice win for Slack. But it didn't happen overnight.
Image source: Slack.
Source Fool.com
