Why Slack Stock Jumped Today
Shares of Slack (NYSE: WORK) have jumped today, up by 9% as of 2:45 p.m. EDT, following a bullish article in Barron's. The article was published Friday evening and suggests the stock's recent weakness could be a buying opportunity.
Many freshly public tech companies have been lagging as investors appear to be increasingly wary of growth stocks that lack a clear path to profitability. Barron's argues that Slack could be getting unfairly grouped in. The article quotes bullish hedge fund managers and Wall Street analysts who point to strong engagement and a best-in-class collaboration platform, while downplaying competitive fears around Microsoft.
Image source: Slack.
Source Fool.com
