WORK reported earnings this evening and their stock is down to the tune of almost 20% currently after the report.
This seems like an irrational reaction to the ER (as is often the case with these things). They did not report anything that should cause such a dump on the stock (imo anyway).
While they did not report astronomical growth as the likes of ZM (Zoom), they showed continued, sustained growth YoY, which in many cases is better for a long-term outlook as opposed to a company who explodes in growth due to the pandemic but carries risk of not being able to sustain that growth once the pandemic has passed.
I’m considering adding to a longer term position in WORK at these prices. I do already have a small position at a slightly higher cost basis than where it fell to after-hours today, and I’m considering adding more. Granted, the stock has rallied a lot since the beginning of the year and it may need a breather before continuing, but I don’t see this dump as justified in my personal opinion.
Any others with thoughts on WORK?
Here are some quick details on their ER:
https://www.cnbc.com/2020/06/04/slack-work-earnings-q1-2021.html
Submitted June 04, 2020 at 07:03PM by humbletradesman https://ift.tt/2z3Oork
