{"id":1503,"date":"2020-12-01T15:46:21","date_gmt":"2020-12-01T15:46:21","guid":{"rendered":"https:\/\/thenextweb.com\/?p=1330040"},"modified":"2020-12-01T15:46:21","modified_gmt":"2020-12-01T15:46:21","slug":"slack-stock-hits-record-highs-as-traders-buy-the-salesforce-rumor","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=1503","title":{"rendered":"Slack stock hits record highs as traders buy the Salesforce rumor"},"content":{"rendered":"\n

Slack stock closed at a fresh all-time high on Monday as traders continued to buy ahead of cloud kingpin Salesforce\u2018s rumored acquisition<\/a>.<\/p>\n

Wind of the deal has now boosted Slack\u2018s share price more than 45% in just three days of trade.<\/p>\n

Slack stock even set a new record intraday high of $43.69 early Tuesday morning; in the green over 90% year-to-date, but only up roughly 12% since its IPO in June 2019.<\/p>\n

Its previous intraday and closing records were $42 (June 20, 2019) and $40.70 (November 25, 2020).<\/p>\n

\"salesforce,
<\/i><\/a>Chart made with Flourish.<\/figcaption><\/figure>\n

That\u2019s far behind benchmark indices like the S&P 500 and the NASDAQ 100, which have returned 22% and 59% since Slack\u2018s initial New York Stock Exchange listing.<\/p>\n

But what\u2019s been a stellar year for \u2018stay-at-home\u2019 tech stocks like Zoom and Amazon hasn\u2019t converted quite so well for workplace comms darling Slack.<\/p>\n

[Read: Square stock on fire: Jack Dorsey\u2019s beard sets 3 share price records in 3 days<\/a>]<\/em><\/p>\n

In September, the company\u2019s stock fell up to 20%<\/a> after posting earnings that showed quarterly revenues growing 50% year-on-year \u2014 which sounds great but pales in comparison to Zoom\u2019s revenue, which reportedly jumped 355% throughout the pandemic.<\/p>\n

On the other hand, traders pumped Salesforce stock<\/a> nearly 30% after it posted healthy revenue growth in August. However, the company\u2019s share price has fallen a few points since the Slack rumors began.<\/p>\n

The market waits for more details on Salesforce\u2019s Slack buyout<\/h2>\n

There\u2019s currently no word on how much Salesforce is prepared to pay for Slack. CNBC cited sources<\/a> familiar with the matter who said the deal could value Slack at a premium, and might be made half in cash and half in stock.<\/p>\n

Slack\u2018s market value is now a touch under $25 billion. If Salesforce is willing to pay more, it could push the company\u2019s stock price higher.<\/p>\n

\"salesforce,
<\/i><\/a>\u2026 now zoom out<\/figcaption><\/figure>\n

But, the opposite could occur if traders have already \u2018priced in\u2019 Salesforce\u2019s potential valuation, considering its share price has already risen 40% in the past few days.<\/p>\n

Analysts say Salesforce\u2019s acquisition of Slack would help the San Francisco SaaS-lord reimagine itself as a hip, young, and relevant brand for tech-savvy workplaces.<\/p>\n

More details are expected to drop after Tuesday\u2019s trading session has ended.<\/p>\n

Published December 1, 2020 \u2014 15:46 UTC <\/p>\n

Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Slack stock closed at a fresh all-time high on Monday as traders continued to buy ahead of cloud kingpin Salesforce\u2018s rumored acquisition. Wind of the deal has now boosted Slack\u2018s share price…<\/p>\n","protected":false},"author":1,"featured_media":1504,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/1503"}],"collection":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1503"}],"version-history":[{"count":0,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/posts\/1503\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=\/wp\/v2\/media\/1504"}],"wp:attachment":[{"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.londonchiropracter.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}