Thursday, September 05, 2019

Slack Was Too Tightly Wound | WSJ

For more details, see Slack plunges after posting first earnings report since going public | CNBC
"Slack Technologies cut an unusual path to its public debut earlier this summer, so it seems only fitting that the company’s first round of quarterly results is also breaking some new ground, namely showing that a stock can lose a quarter of its value and still be priced for perfection.
Slack posted its fiscal second quarter results late Wednesday, the first report since the company’s direct listing in late June.
The report showed the predictable strong revenue growth, deeper operating losses and continued cash burn as Slack continues to prioritize its expansion. But the key numbers were all ahead of Wall Street’s estimates, as was the company’s revenue growth forecast for the current quarter and fiscal year ending in January. Still, the stock slid nearly 14% after hours."
Slack Was Too Tightly Wound | WSJ [Apple News+ link]

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