Breakout

30 Dis 2019

Slack looks to have found the bottom of it's post IPO fall and has built in a nice support line as it tries to gain momentum. In my view, it's been unfairly caught-up in the negative sentiment directed at the 2019 IPO class of Uber, Lyft, and even WeWork (which didn't make it to market). This is an API first business which does a great job of attracting developers to it's platform. Shopify used the same playbook. Add in network effects, the stickiness of the product, and it has all of the right ingredients. Against the noise of negativity, it keeps adding high paying clients such as Sirius XM just recently. The fundamentals are in place here - I think the market will come to appreciate it in 2020.