Shares of Slack jumped nearly 38% higher after the Wall Street Journal reported that Salesforce is holding talks to buy the company. According to sources, a deal could be confirmed as early as next week!
No details have been released on how much the deal would be worth but Slack's market capitalization surged to more than $20 billion following the news announcement. Salesforce has been on a spending spree in recent years, snapping up companies such as MuleSoft for $6.5 billion in 2018 and Tableau for $15.3 billion in 2019.
Most analysts have reported this is a good move for Salesforce to build out its collaboration engine as its cloud division grows. While Slack had more than 12 million daily active users in 2019, its biggest competitor, Microsoft's Teams communications app has more than 115 million daily active users. A deal with Salesforce could help Slack tap into the vast amount of customers the company already has.
Did you know that you can speculate on the direction of Slack's share price using Contracts for Difference (CFDs)? This allows you to potentially profit from both rising and falling markets. Get started with a free demo trading account today!
How to trade Slack with Admiral Markets UK Ltd
If you are feeling bullish or bearish on the share price of Slack you can speculate on the direction using CFDs. To get started, follow these five simple steps:
- Log in to your existing Admiral Markets trading account, or open a live or demo trading account in just a few minutes.
- Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform.
- Type in Slack and choose your instrument at the bottom of the Market Watch search box and then drag the symbol onto the chart.
- Use the one-click trading feature on the chart or right-click on select Trading -> New Order.
- Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.
Source: Admiral Markets MetaTrader 5 Web, #WORK, Weekly - Data range: Jun 16, 2019, to Nov 26, 2020, performed on Nov 26, 2020, at 7:07 am GMT. Please note: Past performance is not a reliable indicator of future results.
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