Looks like this stay-at-home company is outlasting widespread restrictions.
👉 Background: Zoom surged to popularity when COVID hit, with the company's share price hitting a peak of US$559 in October 2020 - an 800% increase since its market debut in 2019.
👉 What happened: As the world returned to normal, so did Zoom's share price. So, the company made a few changes like adding new analytics tools to get that momentum going again.
👉 What else: Voila! Zoom just brought home US$1.07 billion in revenue for the first quarter... and the company's share price soared 16% on the news. So, maybe the future is still bright for stay-at-home stocks after all.
💡 The era of surging stay-at-home stocks might be over…but perhaps the era of hybrid stocks is only just beginning.
💡It’s no secret stocks like Netflix, Peloton and even Zoom are down from their peak-2020 highs, but now we're entering the hybrid world. Less than a quarter of Aussies are returning to the office full time, and 44% are splitting their days between WFH and the office.
💡 Though there's now a little more human interaction... in this new hybrid world, it looks like there are still opportunities for some stay-at-home stocks - especially Zoom - to thrive.
Sign up for Flux and join 100,000 members of the Flux family
