Peter Kimani Posted March 26, 2020 Share Posted March 26, 2020 Slack shares have been doing well despite the COVID-19 pandemic, should I buy the company's stock? Quote Link to comment Share on other sites More sharing options...
0 Simon Mugo Posted March 26, 2020 Share Posted March 26, 2020 Hi Peter, based on the company's crazy ride over the past few weeks, I'd say that Slack's immediate future looks promising as the company has seen a massive increase in demand for its products due to COVID-19 pandemic. The company recently announced that it had crossed the 10 million mark in terms of simultaneously connected users. Six days later, the company hit the 11.5 million mark and crossed the 12.5 million mark a day later. It's clear that the lockdown measures in the US and in other countries have unlocked an avalanche of demand for Slack's business instant messaging product. The high demand for Slack's product is likely to last as long as government's maintain the current lockdown measures that have forced many employees to work from home. Slack shares have since rallied from a low of about $15 to a high of $30, which is quite an impressive rally. The stock has previously traded at a high of $41 and there's a chance that it could rally to these levels. I believe Slack is a solid company, though its share price might be a bit extended for now, I'd buy the stock on any significant pullbacks. Quote Link to comment Share on other sites More sharing options...
0 Melinda Posted June 3, 2020 Share Posted June 3, 2020 Hi Peter, Slack has gained popularity following the Coronavirus pandemic that has changed working patterns the world over. With minimal human interaction, businesses and schools are using this messaging site to stay connected. The platform is even replacing emails thanks to its real-time communication capabilities. But what does this mean to potential investors? Major Collaborations Earlier this year, the company added ride-hailing service Uber to the list of paying clients, a move that gave Slack 38,000 users. This was weeks after tech giant IBM came on board with 350,000 of its workers after using Slack with a part of its internal team from 2014. Despite the collaborations, the company still faces competition from rivals. As of October last year, Slack hit the 12 million mark for daily users. However, it was still behind Microsoft Teams that recorded above 20 million users every day by November the same year. Are Slack Shares Worth It? Slack stock has risen by more than 100% since March this year, the competition notwithstanding. Even so, the organization’s boss Stewart Butterfield acknowledges the site can do with some improvement. With the organization’s Q1 2020 earnings statement expected on June 4, investors will be able to make an informed decision. Quote Link to comment Share on other sites More sharing options...
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Peter Kimani
Slack shares have been doing well despite the COVID-19 pandemic, should I buy the company's stock?
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