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WORK - Slack: Market Overreaction Sentiment Changes
Slack Technologies Inc. Class A
Investment Thesis
Slack (WORK) was one of the stocks that was supposed to benefit from remote working. Indeed, Slack has often been high on rhetoric and a favorite amongst investors.
But its guidance tells a different story. Slack's near-term prospects point to a steady deceleration in revenue growth rates, which is never pleasing for investors.
Meanwhile, the reason why this guidance is hitting investors particularly hard is that investors are starting to question whether the whole ''work from home'' theme has not been overpriced relative to fundamental prospects?