Actions of Focus on video communications (NASDAQ: ZM) were up today on apparently no news related to the company. But investors could heat up in Zoom as the delta variant of COVID-19 spreads in the United States
Tech stock was up 7.5% and was up nearly 7% as of 3:38 p.m. EDT.
The maker of the popular video calling app, Zoom, saw its share price jump today, likely because some investors fear that the increase in COVID-19 cases caused by the delta variant will lead to more restrictions.
Zoom’s app became the go-to service for communicating with friends, family and colleagues during strict shutdowns and social distancing last year, and it helped push Zoom’s share price higher in 2020.
But when the United States rolled out its vaccination plan late last year and social restrictions eased earlier this year, Zoom’s share price fell.
More recently, with cases of COVID-19 on the rise again due to the delta variant, investors have once again focused their attention on Zoom as a way to overcome coronavirus uncertainty.
It’s unclear if Zoom’s share price will hit the same highs as last year, but it’s becoming clear that investors believe the company could continue to grow as more cities in the United States put in. implementing various masks and vaccines mandates.
What’s also clear is that after more than a year of investors trying to figure out the best short-term pandemic games, Zoom’s rebound helps prove that keeping a long-term perspective on an investment is a big deal. best strategy.
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