7:09 PM · 25 November 2020

Slack stock spiked over 24% on acquisition news

Slack (WORK.US) stock jumped over 24% today following a Wall Street Journal report that Salesforce (CRM.US) is considering acquisition of the company. Any deal would value Slack at more than its current market cap of $17 billion. It is uncertain whether the talks will lead to a deal, and Salesforce may eventually set a different target, the report says.

Slack (WORK.US) stock rose sharply and broke above the downward trendline and major resistance at $35.30. If the current sentiment prevails, the upward move could be extended to the $39.95 handle, where all-time highs are located. Source: xStation5

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