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Synergy Capital Asset Management: Zoom skyrocketed gaining passive revenue by 169%

Written by Customer Service on . Posted in Public Companies.

Due to the coronavirus pandemic, most people are required to stay in their houses for quarantine. The move is a way not to spread the virus even more.

Some businesses closed down for the meantime, others let their employees work from home. Some long to see their families which was stranded in different areas in their country, while others are in need to stay at work and continue to generate income for their families.

With this, ‘Zoom (ZM)’ a video conferencing app was flooded with downloads by most people and businesses globally. As the app has been the go-to video-conferencing service for many who were stuck at their home during this pandemic, Zoom’s revenue soars by 169% to $329 Million for only three months.

Eric Yuan, ZM’s CEO said, “Work-from-home and social distance initiatives have meaningfully accelerated the adoption and traffic on the Zoom video communications platform.”

The app is free for download and can host at about 40-minutes long but if time is needed longer, the user will be asked to pay.

Zoom is under Nasdaq indexes. It started more than a year ago with a $62 per share amount and as of this writing, Zoom’s per share amount is $223.87. It’s a good pick if you are going to adapt the new normal way of investing.

Zoom may have gained more than what they’ve expected this year but there are now facing wide growing competition from bigger tech companies like Facebook (FB) and Google (GOOG). They will be fighting for a far-reaching and broader competition as everyone sees online or video conferencing the only medium of communication in our current situation.

If you guys are on set to buy stocks in this pandemic season, you might want to consider stocks from tech companies which offer online services like the three giants I have mentioned above.

For now you may browse more on Synergy Capital Asset Management Limited so you may see what we can offer for your financial needs.
For more information, visit: https://synergycapitalam.com/

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