Tag: Facebook Workplace
British consultancy Cambridge Analytica shut down last year. However, the scandal continues to haunt Facebook, which needs money to diversify.
Facebook is working to open up new revenue streams outside the advertising market. That's where businesses such as Workplace come in.
After losing 11.4% between September 1 and September 20, Slack stock crashed 4.8% yesterday to take its September losses to 15.7%.
As of July 31, Slack had about $800 million in cash and cash equivalents. Slack will likely burn about $105 million in fiscal 2020 ending on January 31.
Slack is scheduled to announce its second-quarter earnings today after the market closes. Be ready for some wild action in Slack stock!
Today, Slack stock was trading under $30, heading into the red for the third straight trading session. At 1:24 PM ET, Slack (WORK) was down 0.87% at $29.54.
Today, Slack (WORK) opened 4.5% higher after MKM Partners analyst Rohit Kulkarni gave Slack stock a "buy" rating with a target price of $40.
Facebook Workplace's redesign distinguishes it from the competition, making the battle between itself, Slack, and Microsoft Teams more interesting.