$WORK Articles

Salesforce Stock Fell on Slack Acquisition at Premium, Tops Q3 Consensus

Salesforce stock price has been under pressure since the office software developer hinted to buy work messaging app Slack last week. The shares extended the losses this week after Salesforce announced to buy Slack at a high premium price of $27.7 billion in cash and stock deal.

Slack stock hit an all-time high on buyout talks, Salesforce fell

The work messaging app Slack stock price smashes an all-time high of $40 after a staggering rally of 40% on reports of Cloud Software Company Salesforce interest in buying Slack Technologies.

Slack Stock Plunged 18% on Earnings Announcement

Slack stock price lost 18% of value in post-market trading despite topping revenue and earnings estimates for the second quarter. The selloff is prompted by the second quarter calculated billings that came in at $218.2 million compared to the $226.3 million consensus estimate. The broader tech sector selloff has contributed to the Slack stock price plunge.