Ask HN: Why has Slack’s stock price been tumbling?

3 pointstempsy2 comments

Slack’s stock price ($WORK) has dropped 30% from its high around its IPO in June. Any clues why the market seems to have turned, especially since other enterprise SaaS IPOs seem to be fairing pretty well on average?

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Most of the IPOs are getting killed this year because they were overvalued during their investment rounds. Slack may still come out of it but I would expect it to take a little bit.

Also do keep in mind that all the VC money / investors can't make trades till 6 months after the IPO so you might see some movement in October.

Maybe the world is more in discord atm, not slacking?

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