Stock price when the opinion was issued
It can't get any traction. It should be a natural work-from-home stock. True, it popped from $15 to $40 between March and June, but then lagged other work-cloud stocks because Wall Street feared too much competition in this space. Last month, Slack reported a solid top and bottom, except billings and net retention rate (additional business from existing customers). He thought these numbers were fine, but Wall Street didn't. Yes, there's competition--his own poll show that Slack is being clobbered by competition from Microsoft Teams.
It can't get any traction. It should be a natural work-from-home stock. True, it popped from $15 to $40 between March and June, but then lagged other work-cloud stocks because Wall Street feared too much competition in this space. Last month, Slack reported a solid top and bottom, except billings and net retention rate (additional business from existing customers). He thought these numbers were fine, but Wall Street didn't. Yes, there's competition--his own poll show that Slack is being clobbered by competition from Microsoft Teams.
Mission is to eliminate email, to lead to higher productivity. Interesting product. Being acquired by Salesforce, in a huge deal. He worries about competition from MSFT Teams. Post-pandemic, businesses are going to be consolidating and eliminating vendors.
Another Canadian success story. Valuation is quite rich. Other companies have a better risk-adjusted reward. For the collaboration space, he'd look at Open Text with its great track record. instead. WORK has a lot of shiny promise.