Slack stock hits record highs as traders buy the Salesforce rumor
Traders have rallied Slack stock more than 45% in the past few days
The market waits for more details on Salesforce’s Slack buyout
There’s currently no word on how much Salesforce is prepared to pay for Slack.CNBC cited sourcesfamiliar with the matter who said the deal could value Slack at a premium, and might be made half in cash and half in stock.
Slack’s market value is now a touch under $25 billion. If Salesforce is willing to pay more, it could push the company’s stock price higher.
But, the opposite could occur if traders have already ‘priced in’ Salesforce’s potential valuation, considering its share price has already risen 45% in the past few days.
Analysts say Salesforce’s acquisition of Slack would help the San Francisco SaaS-lord reimagine itself as a hip, young, and relevant brand for tech-savvy workplaces.
More details are expected to drop after Tuesday’s trading session has ended.
Story byDavid Canellis
David is a tech journalist who loves old-school adventure games, techno and the Beastie Boys. He’s currently on the finance beat.David is a tech journalist who loves old-school adventure games, techno and the Beastie Boys. He’s currently on the finance beat.
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