The 1 Number From Slack's Earnings Report That Sent Its Stock Plunging 16%
With a large part of the population working remotely and the use of work-from-home solutions soaring in popularity, expectations were high going into Slack Technologies' (NYSE: WORK) second-quarter financial report.
Prior to the earnings release, the stock had gained 30% so far in 2020, easily outpacing the Nasdaq Composite, which was up just 21% during the same period. It seemed the stage was set for a blowout performance. And through the results were largely better than expected, one key metric sent the stock plummeting, wiping out much of its gains for the year.
Image source: Slack.
Source Fool.com
