Financial Digest

Slack stock is surging more than 50% on its first day trading in an unusual 'direct listing'

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

The workplace chap app listed shares via an unusual direct listing, with existing shareholders bypassing the traditional IPO process and underwriters.

Shares of Slack shot up more than 50% within moments of beginning trading on the public markets Thursday. The workplace chap app listed shares via an unusual direct listing on Thursday, with existing shareholders bypassing the traditional IPO process and underwriters, to sell shares directly to the public. Slack's stock was set to begin trading at a reference price of $26 a share, but quickly surged to $41,90. This story is developing...

Shares of Slack shot up more than 50% within moments of beginning trading on the public markets Thursday. The workplace chap app listed shares via an unusual direct listing on Thursday, with existing shareholders bypassing the traditional IPO process and underwriters, to sell shares directly to the public. Slack's stock was set to begin trading at a reference price of $26 a share, but quickly surged to $41,90. This story is developing...

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Brett

OH WHO WOULDA THOUGHT THAT EVERYONE MAY WANT TO GET IN ON THIS KIND OF THING?!?! IPOs are a scam for the rich to dump on the less savvy traders.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Slack IPO Reference Price Set at $26 a ShareSlack Technologies Inc. is set to make its trading debut Thursday on the New York Stock Exchange at a valuation of about $15.7 billion, the second major company to go public through a so-called direct listing. Do you understand how meaningless it is to include a share price without the corresponding valuation ? SlackHQ Stay away from $SLACK stock since Microsoft office teams is eating their Lunch since all VC socialcapital wants to throw their shares in public markets SlackHQ Stay away from $SLACK stock since Microsoft office teams is eating their Lunch since all VC's wants to throw their shares in public markets
Source: WSJ - 🏆 98. / 63 Read more »

Slack reference price set at $26 for non-IPOSlack Technologies Inc. shares will have a reference price of $26, and are expected to begin trading Thursday morning on the exchange. Slack is listing its... I feel good about $WORK.
Source: MarketWatch - 🏆 3. / 97 Read more »