Josh Brown Likes Slack

Josh Brown spoke on CNBC's "Fast Money Halftime Report" about his long position in Slack Technologies Inc WORK. He bought some on the IPO and then he added to the long position at $30. After the recent decline, he decided to double down on the stock.

Brown thinks productivity software is going to get even bigger. He added that, according to Morgan Stanley, the total addressable market for something like Slack is potentially $35 billion. He explained that the company has better engagement numbers than Facebook FB.

The company is still not cash flow positive, but it's not a cash burner and it grew last quarter more than 50%, Brown said.

Slack's stock closed Thursday's session higher by 6.4% at $24.93 per share.

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