
ZM Stock Up 10% on Tuesday as Zoom CEO Eric Yuan Transfers $6B Worth of Shares
After a slump during the weekend, Zoom (ZM) stock is back to winning ways.
After a slump during the weekend, Zoom (ZM) stock is back to winning ways.
ZM shares are trading remarkably higher at the time of writing, with investor sentiments heightened following the bullish 2021 guidance revealed by the company.
Zoom stock has skyrocketed nearly 5x this year on the backdrop of massive demand owing to the work-from-home culture and more businesses moving online. Zoom investors had a phenomenal bull run in 2020.
Its daily peak users surged significantly with a report showing an unprecedented growth from 10 million users in December 2019 to 100 million users in April 2020.
During the Q3 quarter that ended on October 31, Zoom recorded a revenue growth of 367% on an annualized basis in the quarter.
As noted by Glassdoor, the most common trends amongst the top-rated CEOs during the COVID-19 pandemic include prioritizing work-life balance, taking care of employees’ overall well-being, offering flexible and/or remote working policies.
Zoom (ZM) stock surged 40.78% on Tuesday. The impressive performance is attributed to the 2020 Q2 results released earlier in the week.
Zoom posted Q2 revenue of $663.5 million outperforming the benchmark of $500.5 million. ZM stock is up today in the pre-market.
Popular video telephony provider Zoom Video Communications bows to pressure and will enable users of all grades to access end-to-end encryption starting from July 2020. ZM stock is down.
Zoom’s Q1 earnings far outnumbered analysts’ expectations, appeasing investors and leading to Zoom stock surge. In pre-market today, Zoom (ZM) stock has jumped by 1.88% to $212.00.
Zoom Video Communications (ZM) stock jumped over 11% today. This comes as the company recorded 300 million daily users, up 50% from the beginning of April even as the company battles a privacy backlash and faces competition from Google Meet.
Zoom (ZM) stock price is down around 6% after several privacy issues are discovered. The video conferencing company has faced a lawsuit in California and an investigation by the New York Attorney General.