WORK - Why Shares of Slack Technologies Are Rising Today
Slack Technologies (NYSE: WORK) shares were climbing today as investors were likely processing more news about rising coronavirus cases in the U.S. As the country grapples with the ongoing pandemic, investors have been looking for technology companies that have the potential to benefit from employees who are working at home. The company's stock rose as much as 7.1% by midafternoon.
As of 2:16 p.m. EDT, Slack's share price was up 3.2%.
The U.S. continues to be a hotspot for the global coronavirus pandemic, and some states, including Florida, are experiencing record cases of the virus. As COVID-19 continues to spread across the country, some states are walking back plans to fully reopen -- which means that many companies will likely keep workers at home for the foreseeable future.