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Summary: Slack is an instant messaging service owned by Salesforce. Investors wanting to buy Slack stock will have to do so indirectly by purchasing shares of Salesforce with brokerage platforms like eToro.
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What is Slack?
Slack’s platform provides users a centralized space for team communication, file sharing, project management, and integration with various third-party applications. It has gained popularity for its user-friendly interface, versatility, and ability to create channels for specific topics or projects, making it easier for teams to organize and streamline their workflow and conversations.
Slack stock IPO
Slack Technologies went public in June 2019 via a direct stock listing on the New York Stock Exchange under the ticker symbol “WORK.”
In December 2020, Salesforce announced its acquisition of Slack Technologies in a deal valued at approximately $27.7 billion.
Slack Technologies is a subsidiary of Salesforce and trades under its brand on the New York Stock Exchange under CRM. Salesforce is a constituent of the Dow Jones Industrial Average (DJIA), the S&P 100, and the S&P 500.
About Salesforce
How to buy Slack stock? Step-by-step process
To invest in Slack, you need to buy Salesforce stock. To do that, follow these steps.
Step 1: Choose a broker
You need to register with a reputable online broker to securely invest in Slack. After assessing a variety of online trading platforms, we recommend eToro, which offers the following:
- Commission-free stock and ETF trading;
- 2,000+ stocks from 17 exchanges;
- Fractional shares;
- User-friendly platform.
Highly Rated Stock Trading & Investing Platform
-
Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
If you’re interested in investing in other social network and messaging app companies, there are several options available beyond Slack. Here are some you might consider:
How to choose the best online broker?
Choosing the appropriate online broker is a pivotal decision that can substantially influence your investment experience and results. As a result, when selecting an online broker, make sure you evaluate these factors:
- Asset availability: Ensure the broker offers access to the assets you intend to trade;
- Security measures: Verify robust data and fund protection, including two-factor authentication;
- Regulation: Opt for a regulated broker for safety and compliance;
- Fees: Understand the fee structure’s impact on your returns;
- Trading platform: Assess user-friendliness and essential tools;
- Account types: Check if they offer account types that suit your needs;
- Customer support: Ensure responsive and knowledgeable support;
- Deposit and withdrawal: Confirm convenient and secure payment options;
- Trading tools: Assess advanced trading features;
- Account minimums: Note minimum deposit or balance requirements;
- User reviews: Read reviews and gauge reputation;
- Mobile app: Confirm a reliable mobile app if you prefer mobile trading.
Step 2: Place your order
After you’ve registered with a broker, it’s time to proceed with your order, which will typically include the following steps:
- Locate Salesforce (Slack’s parent company) using its ticker symbol CRM;
- Determine your order type (market order for an immediate purchase or limit order at a specific price);
- Specify your investment amount in currency or the number of shares;
- Review all details carefully before confirming the transaction.
Step 3: Monitor your investment
Establish a regular schedule for reviewing your investments, whether that’s on a weekly, monthly, or quarterly basis, depending on your preference. However, it’s advisable to avoid the temptation of daily monitoring, as frequent short-term market fluctuations can induce unwarranted stress and impulsive decision-making.
CRM stock price today
Pros and cons of investing in Salesforce
Pros
- Growth potential: Salesforce operates in the rapidly growing CRM and cloud computing markets, providing substantial growth opportunities;
- Diverse product portfolio: Salesforce offers a wide range of cloud-based services beyond CRM, including marketing, analytics, and commerce, providing diversified revenue streams.
Cons
- Competition: The CRM and cloud computing sectors are highly competitive, with rivals like Microsoft (NASDAQ: MSFT) and Oracle (NYSE: ORCL), which can exert pressure on Salesforce’s market share;
- Integration challenges: Salesforce’s acquisitions sometimes face integration challenges, potentially impacting the user experience and company performance.
In conclusion
In short, invest in Slack:
- Select a broker;
- Sign up and fund your account;
- Buy shares of Salesforce, Slack’s parent company;
- Periodically monitor your position.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about how to buy Slack stock
How can I buy Slack stock?
Slack is now part of Salesforce, Inc. To invest in Slack, you can buy shares of Salesforce (NYSE: CRM) via trading platforms such as eToro.
Is Slack a public company?
Slack stock is no longer traded separately as it has been acquired by Salesforce.
Can I still invest in Slack as a separate entity?
No, you cannot invest in Slack as a separate entity since it has been merged into Salesforce. To invest in what was formerly Slack, you need to purchase shares of Salesforce, the acquiring company.
What is the stock symbol for Salesforce?
Salesforce is traded on the New York Stock Exchange (NYSE) under the stock symbol “CRM.”
How do I choose a brokerage platform to buy Salesforce stock?
When selecting a brokerage platform, consider factors such as fees, available research tools, customer support, user-friendliness, and security. Ensure the platform you choose aligns with your investment goals and preferences.
Can I invest in Salesforce through fractional shares?
Yes, many brokerage platforms offer the option to invest in fractional shares, allowing you to buy a portion of a single Salesforce share if you don’t have the capital to purchase a full share.
Highly Rated Stock Trading & Investing Platform
-
Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
