Slack (WORK) has just suffered one of its biggest one-day drops in its history after reporting second-quarter earnings results. The communications and collaboration software company, thought to be one of the biggest beneficiaries of the coronavirus/work-from-home surge alongside names like Zoom (ZM), has just shown that the "coronavirus bump" may be shorter-term in nature. Investors balked at the fact that, despite still-strong revenue growth in the current quarter, a weaker billings picture may spell out deceleration in future quarters.
It's useful to note that with the ~15% post-earnings drop, Slack's shares