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Slack News: WORK Stock Jumps 2% on Uber Deployment Rumor

Uber may have its 28,000 employees use the service

Slack (NYSE:WORK) news for Friday surrounding a rumor of Uber (NYSE:UBER) deploying the service has WORK stock up.

Slack News: WORK Stock Jumps 2% on Uber Deployment Rumor
Source: Sundry Photography / Shutterstock.com

According to recent rumors, Uber is preparing to set up almost all of its employees with access to Slack. That would be a significant increase in the number of users for the messaging service as Uber employs roughly 28,000 people.

While the Slack news does have WORK stock on the move Friday, it is still unknown how true it is. Uber has responded to the claims with no comment and Slack has yet to make any official announcement about the news.

What’s worth pointing out is that there could be blowback if this rumor is wrong. A similar thing happened earlier this month with IBM (NYSE:IBM). Reports said it was going to start using Slack and WORK stock rose afterwards. Then Slack revealed that IBM had already been its largest customer for years, reports TheStreet.com.

WORK investors will get a Slack news update next month. The company plans to release its earnings report for the fourth quarter of fiscal 2020 on March 12. That earnings report will drop after the markets close. There will also be a conference call going over its results at 5:00 pm. Eastern Time.

WORK stock was up 1.60% as of Friday afternoon. The stock has also been steadily rising and is currently up 19.51% since the start of the year.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/02/slack-news-bumps-work-stock-on-uber-rumors/.

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