I'm taking a little off the table and raising my stop up from from $30 to $33 based on instincts. Basis is $30.50
SnowWhiteJaguar
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@basedstickman, yea it will retest that 30ish level i think, that's why i'm thinking to get out and get back in again there. I just don't know how high will it go before it comes back?
Slack_Trader
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Well, Jim Cramer called Slack a good investment at 40$ entry point 1 year ago. In investors psyche the stock is still "cheap". Even though it has a high price to sales multiple, its much lower than says CrowdStrike or Zoom in this category, so I would see substantial upside as soon as the narrative of "Microsoft Teams slowly destroying Slack" evaporates - which is happening now.
On a fundamental level, its important to see the numbers on june 4th, but I would stay bullish on Slack given i) user satisfaction rates; ii) huge untapped market providing substantial growth rates even in a competitive environment; iii) superior tool than Teams in a lot of ways, making new Teams costumers future marketing targets of Slack; iv) high dollar retention rates, confirming the robustness of the business model.
We could be seeing the birth of a new Google or Microsoft here, given the disruptive model, not letting this opportunity pass.