The company whose stock price rose despite COVID-19.
Corona Virus has brought disaster to most of the economies of the world. Whether is be economic superpower like China, USA or any other country. It has brought a downfall for many industries especially travel industry, manufacturing industry, oil and gas industry and other industry you can think of. Malls are closed, there is travel ban across many countries and there is lock-down in many major cities.
In my previous article, I mentioned the companies who have suffered in this Corona Virus epidemic, from three different market segments i.e. Travel, IT and Medical. Despite all this, there is one company and its stakeholders that is benefiting from this. i.e. Zoom Video Communications.
Why Zoom is benefiting?
Many companies have advised their employees to work from home. Teams are communicating through video conferencing. Schools and universities are taking classes online. The following are the two prominent features that make using of Zoom Video Communications convenient for professionals and students equally.
- Whiteboard features — For teaching purpose and for making notes during a professional meeting.
- No need to create account if you want to join a meeting. — You can just do by getting a meeting link. In this way you don’t have to go through the process of adding contacts and ultimately calling all those particular contacts one by one for video conferencing. Zoom makes it easy for group calls.
For these two particular reasons Zoom is the best bet for video conferencing in such a crisis like Corona Virus pandemic for both professionals and for students and teachers alike to communicate and to get their work done.
Stock Price of Zoom:
6 Months Stock:
The image above shows the graph of 6 months history of stocks price of Zoom Video Communication. You can clearly see that starting from Feb 2020 onward it has reached its highest value is last 6 month with no sign of slowing down. US$ 62 was the lowest it got in the last 6 months and the highest being US$ 155 to date.
1 Year Stock:
The image above shows the graph of 1 year history of stock price of zoom. The lowest value shown is US$ 59.94 and the highest being US$ 155. We can see clearly that over the one year period the value of zoom has grown three times, mostly during the period of Corona Virus outbreak after Feb 2020.
We are living in the digital age and hence we should not underestimate the power of digital technologies. Sometimes, some applications get lucky and are liked by many. There are many other video conferencing applications out there but didn’t get that lucky as Zoom did. And other times, a much better software application or product vanishes away unnoticed. Not debating here whether Zoom is really the best out there or it just got lucky. Having said that, we should try to adapt to digital technologies as it is the age we are living in and it is what the future is all about.