Market Reactions to Slack Technologies Inc (WORK) Stock Getting a Bearish Rating

Monday, July 6, 2020 3:24 PM | InvestorsObserver Analysts

The market has been down on Slack Technologies Inc (WORK) stock recently. WORK gets a Bearish score from InvestorsObserver's Stock Sentiment Indicator.

Sentiment Score - ,bearish

Slack Technologies Inc has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on WORK!

What is Stock Sentiment?

When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment.

Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down.

InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend.

Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.

What's Happening With WORK Stock Today?

Slack Technologies Inc (WORK) stock is trading at $30.96 as of 3:23 PM on Monday, Jul 6, an increase of $0.65, or 2.14% from the previous closing price of $30.31. The stock has traded between $30.18 and $31.67 so far today. Volume today is below average. So far 11,602,902 shares have traded compared to average volume of 25,522,426 shares.

To see InvestorsObserver's Sentiment Score for Slack Technologies Inc click here.

More About Slack Technologies Inc

Slack Technologies operates Slack, a software-as-a-service platform that brings together people, applications, and data. The platform is appropriate for all business types, from small and medium-size businesses to enterprise customers. The company was founded in 2009 as a game developer but later changed its focus and released its internally developed toolset, Slack, in 2013. It is headquartered in San Francisco.

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