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WORK - A Pairs Trade With Atlassian And Slack Technologies
Slack Technologies Inc. Class A
The idea of a pair trade is that it is designed to make money regardless of market conditions. One side of the trade is a bullish or long position and the other side of the trade is bearish or short. The two securities should be highly correlated and ideally from the same sector or industry. Given the current market conditions and the uncertainty in the market and the economy, I thought the idea of a paired trade made sense.
In this case, I looked at two software companies that are both in the enterprise software