Member-only story
Still Waiting for the Slack Boom
Slack shares had a rough day Wednesday — dipping as much as 8% — following a pessimistic analyst note from Morgan Stanley. As I wrote about last month, Slack simply has not managed anything close to the massive uptake in business during the pandemic-inspired remote work boom that Zoom has enjoyed. It’s not that Slack has done poorly, it’s just struggled to live up to its own early hype — even as Zoom became a household name. (Also: Slack’s recent effort to drum up buzz through a sneaker collaboration, of all things, seemed more desperate than cool.)
Now CNBC reports that Morgan Stanley has added another wrinkle, arguing that Slack rival Microsoft Teams has been making headway in the category. “Massive work from home demand for collaboration tools,” the analysts wrote, “may end up doing more harm than good for Slack.”
