By all accounts, Slack Technologies (WORK) reported a solid FQ2 for the first quarterly report following their hot IPO back in June. The stock was already down substantially from the highs above $40, but the IPO rally was so outrageous that investors should expect the IPO pricing at $26 is broken. My original research was bearish on the stock following the hot IPO, and the view hasn't changed much now.
Image Source: Slack website
Decelerating Metrics
No other metric kills a highly priced IPO than metrics pointing towards decelerating growth. So, despite beating