WORK - Better Buy: Slack Technologies vs. Microsoft
Over the past few years, Slack (NYSE: WORK) attracted millions of users with its streamlined enterprise communication platform, which reduced the need for clumsy email chains and phone calls. Slack's growth led to its direct listing on the NYSE last June, but the stock now trades slightly below its initial reference price of $26.
Investors seemingly lost interest in Slack after Microsoft (NASDAQ: MSFT) aggressively bundled its competing platform, Teams, with its other Office 365 products. Slack's decision to file an antitrust complaint against Microsoft in Europe in July also suggested it was struggling to keep pace with its larger rival.
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