Shares of Slack Technologies dipped 3% on Thursday ahead of the workplace communication platform's quarterly report, pausing a three-month rally fueled by millions of people working from home due to the coronavirus.
FILE PHOTO: The Slack Technologies Inc. logo is seen on a display on the floor of the New York Stock Exchange during the company's IPO in New York, U.S. June 20, 2019. REUTERS/Brendan McDermid
A top pick among traders betting on shares of companies benefiting from the recent shutdown of the U.S. economy, Slack on Wednesday closed at a record high after more than doubling from lows in March during Wall Street’s broad selloff. “The biggest risk to Slack in our view is that the good news is ‘already out there’,” warned Canaccord Genuity analyst David Hynes in a recent client note, maintaining his “buy” rating on the stock.
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