SLACK STOCK SPIKES ON REPORTS OF SALESFORCE DEAL
(CNN) – Slack’s stock shares were up Wednesday following news of a potential acquisition by Salesforce.
The workplace messaging tool has become more popular since more people began working from home due to the pandemic.
Slack’s stock price shot up as much as 28% Wednesday and its market cap grew to nearly $21 billion.
Shares of Salesforce fell 4% on the news.
Like Slack, Salesforce is a business software company that aims to improve efficiency and collaboration for a remote workforce.
But as its name implies, Salesforce is more focused on driving revenue through its cloud-based customer relationship management software.
Neither company has any public comment on the potential acquisition deal.
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November 27, 2020 at 11:25PM
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