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Slack Continues Fall After WSJ Suggests Stock Is Overpriced

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Slack Continues Fall After WSJ Suggests Stock Is Overpriced

Slack Technologies Inc (NYSE: WORK) shares traded below $30 for just the second time on Tuesday and continued to stay below that level Wednesday.

The Wall Street Journal suggested Wednesday morning the stock is overvalued.

"The trouble is that Slack hasn’t yet shown that companies are adopting it exclusively. As a merely supplemental platform, its benefits have limits," according to WSJ's Lauren Silva Laughlin. "Checking yet another form of communication can cause further disruptions at work and cut even more into productivity,"

Slack shares traded lower by 3.5% to $28.85 at time of publication. The stock has a 52-week low of $28.50 and a 52-week high of $42.

Related Links:

Slack's Stock Breaks Below $30 Level

Square's Downward Pressure Continues

Photo courtesy of Slack.

Posted-In: Movers Tech Media Trading Ideas Best of Benzinga

 

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