Our latest buy is a new stock issue (!)

Article Excerpt

We generally advise against investing in new issues, for one simple reason: new investments come to market when it’s a good time for the company or its insiders to sell, but that may not be a good time for you to buy. In fact, it usually isn’t. However, we think that Slack Technologies is now well-funded with a popular product and an expanding blue-chip client list. Its outlook is bright. SLACK TECHNOLOGIES INC. $30.80 (New York symbol WORK; TSI Rating: Extra Risk) (855-980-5920; www.slack.com; Shares o/s: 599.0 million; Market cap: $18.4 billion; No dividends paid) provides companies with an application that helps their teams of employees communicate through chat and direct messaging. The company is a brand-new listing, having gone public on June 19, 2019. Slack aims to replace email within a business The primary function of Slack’s software is to replace the use of email inside an organization. Unlike email, most activity on the Slack platform happens in team-based “channels,” rather than in…