Undeniably, Zoom became a popular teleconferencing platform during the Covid-19 pandemic. This application was chosen because it was considered easier to operate by those who had to suddenly work and school from home. Although some countries have begun to loosen quarantine territories, there are still many events held virtually.
Zoom is still one of the most widely used platforms, this has affected Zoom’s business performance in the first quarter (Q1) 2020. Apart from the issue of user data security, Zoom’s stock value has skyrocketed by 250 percent this year.
Zoom’s current stock value reaches 67.43 billion US dollars. Zoom’s market value even surpasses AMD hardware company which has a market value of 64 billion US dollars
At present, Zoom has more valuations compared to 417 other companies listed on the S&P 500 stock market index. Nearly 85 percent of the members in S&P are blue chip shares, as summarized from CNN , Wednesday (06/17/2020).
In early June, Zoom reported that its revenue in the first quarter of 2020 rose 169 percent from last year to 328 million US dollars. Zoom claims there are 256,400 companies where more than 10 employees of these companies have used Zoom. The number is up 354 percent from last year.
Zoom itself began to take the floor in the United States capital market in April 2019. Not only outperforming AMD, Zoom’s market value also surpasses companies in other sectors.
Call it Regeneron Pharmaceuticals (66.4 billion US dollars), Unilever (64 billion US dollars), General Electric (63.33 billion US dollars), CME Group (62.6 billion US dollars), and Colgate-Palmolive (62, 4 billion US dollars).
In the midst of a global economy that is still unstable, it is uncertain how the condition of Zoom shares will be on the exchange. However, Credit Suisse analysts advised clients to start selling their Zoom shares in April, where the value of the shares has continued to crawl to this day.