Slack went public this week via the most elegant and efficient way possible — a direct listing. The opening auction of the stock cleared around noon on Thursday, at a price of $38.50. It then traded smoothly, under the ticker symbol WORK, for the rest of the week within a pretty narrow range between $36.50 and $42.
Why it matters: No one received preferential treatment. There was no possibility of the kind of scandalous behavior whereby banks like Goldman Sachs receive millions of dollars' worth of kickbacks from clients they place into hot IPOs.