Slack Technologies (NYSE: WORK)
Slack is a software company that helps teams communicate online. Their product offers direct messaging and group chat rooms, and it integrates with many other popular productivity tools. This product has been particularly helpful for people working from home during the pandemic. With Slack, teams can communicate efficiently, even while working from home.
It was founded in 2009 but only went public in 2019. Slack stock went up at the beginning of December 2020 when Salesforce announced a deal to acquire them. However, it will be at least a year until that sale goes through. Should shareholders of the messaging platform continue to hold, or does it make more sense to sell and move on?
Over the last year, earnings have been pretty decent. Revenue was $903 million for the entire year of 2020. Customers are still signing up, even though the company is being bought, proving that growth isn’t slowing down. Slack’s no slacker when it comes to revenue generation. It would be perfectly reasonable to just relax, hold your shares, and try to enjoy the remote work revolution.
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