WORK - Why Slack Technologies Stock Surged 31.3% in May
Shares of Slack Technologies (NYSE: WORK) rose 31.3% in May, according to data from S&P Global Market Intelligence. The business messaging software-as-a-service (SaaS) company continued to capitalize on investor optimism for next-gen tools that enable working from home.
While quarantines are now being lifted across the country, many think the work-from-home trend is here to stay, fueling Slack's rise since the March market meltdown. The stock price had actually tumbled since its direct public offering (DPO) approximately one year ago, but this month's surge led it right back to where it was trading when the hot growth stock started trading.
Image source: Slack Technologies.