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Investigations  /  09.06.2019

Investigation of Slack Technologies

Slack Technologies, Inc. (WORK) Predicts Large Loss for Next Quarter

On September 4, 2019, in its first earnings report since going public in June 2019, Slack reported a GAAP operating loss of $363.7 million for its second quarter fiscal year 2020, $330 million more than its $33.7 million loss in the second quarter of fiscal year 2019. The financial report also went on to predict another significant loss – wider than Wall Street expectations – for third quarter fiscal year 2020. Slack’s stock opened at $26.47 the next day, a drop of 31% from its initial June 2019 trading price of $38.62.

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