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Slack Gets Shellacked After Earnings

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Shares of Slack (WORK - Free Report) fell sharply on Wednesday. WORK closed at $29.32 on Tuesday, ahead of earnings. The company reported a breakeven EPS quarter and beat on revenues. EPS Guidance for Q3 was on the low end of the previous range. The stock opened at $24.62 on Wednesday morning, off more than 15%. WORK traded as high as $35.07 as recent as last Wednesday. The 200-day moving average now sits above the current share price, at $27.24. Shares are off 40% from the 52-week high of $40.07. WORK was a Zacks Rank #3 (Hold) heading into the report. The Technology Services industry ranks in the Bottom 31% of our Zacks Industry Rank.

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