The stocks of Zoom Video Communications (NASDAQ: ZM) have stayed up high during this coronavirus pandemic. When the world went online, online platforms like Zoom have been of great use. Schooling from home and work from home, both require video meetings for smooth functioning and the platform of Zoom Video Communications has been a great aide for the same. Therefore, the stocks of this company have remained favorable for buying.
This week, the stocks however went down a bit. The reason as to why this happened is the announcement made by Pfizer over the Covid-19 vaccine. Pfizer had announced that their candidate trial over the vaccine has been successful and the vaccine is more than 90% effective against the coronavirus. On the one hand, this announcement caused the stocks of Pfizer and BioNTech to Skyrock but on the other hand, the stocks of many other companies went down. Zoom Video Communications also had to bear with this. This week, the Zoom Video Communications stocks have remained high and low.
Statistics of Zoom Video Communications Inc. (NASDAQ: ZM)
- 52 Week Range: $62.02 – $588.84
- Average Volume: 11,354,326
- Market Capital: $114.787B
Zoom Video Communications: A Buy Now or Not?
Overall, we can say that this stock has maintained itself in a good position and is continuing to do so. One or two days of underperforming does not hamper the overall performance of a stock that has steadily maintained itself in this volatile sector, even during the crisis of pandemic. The main reason for its stability has been its utility and necessity during this time, whether to connect with people or for the sake of work. It also has major rivals, one of them being Google Meet, which also established itself as a major platform for the same, schooling or working from home or connecting with the near and dear ones around the globe.
Nevertheless, Zoom is a good choice for investing. The present scenario suggests this idea. However, there are chances that if an approved vaccine is out soon, the progress of this stock might get threatened. While it is expected that a proper Covid-19 vaccine is still far away, but any positive update regarding the vaccine is welcomed, just like in the case of Pfizer.
The better status of Zoom Video Communications is directly proportional to the lockdown. As much and as long as the lockdown will last, Zoom will remain and perform very well in the stock market. The lockdowns have almost opened up at most of the places but at the places where the Covid-19 cases are rapidly rising lockdowns can be enforced again or extended.
Therefore, the stocks of this company are a buy now, but what the post-covid period will hold, cannot be well predicted. Also, when the post-covid period will arrive, no one can say, and hence, Zoom stocks can be well considered as a favorable choice for putting the money on.
