First off, please don't take anything I say seriously or as financial advice. As always, this is on an opinion based basis. That being said, Slack recently had a positive earnings report, which shown higher year of year growth. This didn't stop the stock from dropping over 10%+ afterwards. There are valid reasons though why investors should be or are shortening it. The risk is high when comparing the enterprise value of Slack to the current market cap it has. 2019's revenue was $401 million. Even if they are on track to do $1 billion dollars a year, this gives a fair market value likely around $3.3 billion dollars. The 28.171B market cap and even 14.209B Enterprise Value, both put the stock at a premium. Earlier I talked about how companies like Tesla or even Ferrari could be looked at as overvalued. However, this isn't that bad when you notice their brand value comes with a large IP portfolio, manufacturing facilities, and actually reasonable expectancies for product quotas. Remove that, and you have a stock that is just in the digital transformation category that people are betting long because it was a unicorn. Slack does have really amazing potential when comparing it to competition in this space. However, at this price and the current financials, people seem to be overbetting long. It would be interesting to see if this stock dips, and then an entry buy may be better. Currently, you can try doing a buy entry now and sell at $41, but that would be a high risk trade given this stock has a high confidence interval of also dropping down to at least $29. I would say, keep this in the watchlist, but also keep in mind the financials. You have a stock at the very least overvalued 2x, but most likely overvalued closer to 10x. Some stocks are always speculative though, but still something to be weary about.