WORK - Why Slack Stock Jumped Again Today
Shares of Slack (NYSE: WORK) have jumped by as much as 7% today on continued speculation that salesforce.com (NYSE: CRM) is preparing to announce a deal to acquire the enterprise collaboration specialist. Rumors of the acquisition first surfaced last week, sending shares soaring by nearly 40%. As of 11:30 a.m. EST, the stock was up 4%.
CNBC reports that Salesforce is likely to formally announce the deal when it reports fiscal third-quarter earnings results on Tuesday after the market closes. The transaction is expected to be structured with roughly half cash and half stock, according to the report, while valuing Slack at a premium.
Image source: Slack.
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Why Slack Stock Jumped Again Today