Slack's Stock Breaks Below $30 Level

Slack Technologies Inc WORK is trading below $30 for only the second time since going public on June 20. Slack went public at approximately $38 and briefly reached $42 its first day of trading.

Many technology companies are trading lower amid trade tensions between the U.S. and China.

Slack is a business-to-business enterprise communications provider that opted to forgo investment bankers and did a direct offering to the public. The stock is down about 24% since the IPO.

Many large organizations (including Benzinga) use Slack for internal communications. It’ll be interesting to see what Slack reports in its next earnings on Sept. 4.

Slack traded lower by 3.9% to $29.70 at time of publication.