Welp, it's a bittersweet end of an era. Salesforce officially announced that they are acquiring Slack for a mix of stock and cash for an enterprise value of 28 billion dollars.
I've officially sold all my shares of Slack (WORK). I sold 40 shares for around $43.65 per share. My investment ended up being worth $1,754 with a total profit of $745.20 (+73.87%). Pretty exciting for a one month investment! I just wish I originally bought more 🙃.
Here is a screenshot from Robinhood...
I am obviously happy about the quick profit, but this is a bittersweet win because I was really excited about Slack's long term growth potential. It feels like Salesforce acquisition cuts a very fun ride short.
The stock still has some potential upside so don't worry if you were waiting to exit your own position of Slack. Slack shareholders will be compensated with cash and shares of Salesforce which means Slack stock could still go up if Salesforce stock is higher when the deal closes in Q2 of next year.
I could be missing out on future Slack gains if Salesforce stock rises a ton by Q2, but I'm okay to sell now and move my profits into a higher growth opportunity.
You can view the rest of my Four Minute portfolio on my website.
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