SEC Probes Listings of Slack, Other Unicorns on NYSE – WSJ

The Securities and Exchange Commission is investigating the listings of Slack Technologies Inc. WORK 2.40% and other major companies on the New York Stock Exchange, in a probe looking at how trading was handled on the first day, people familiar with the situation said.

SEC enforcement staff have recently sent letters including one seeking information from electronic-trading firm Citadel Securities LLC related to how it opened Slack’s stock for trading on June 20 in the workplace-messaging app’s so-called direct listing, the people said. It also seeks information on other initial public offerings.

via SEC Probes Listings of Slack, Other Unicorns on NYSE – WSJ.