Stock Alert: Zoom Video Defies Gravity

(RTTNews) - Zoom Video communications Inc. (ZM) is one of the very few companies whose shares are defying the stock market crash caused by coronavirus.

The stock has gained more than 40% in the 3 last three months.

Zoom Video is a remote conferencing services company. Its services include video conferencing, online meetings, chat, and mobile collaboration.

As coronavirus is spreading across the country, many companies are choosing online meetings and remote conferences over face-to-face ones, that is paying off for Zoom Video.

The company has projected first-quarter and full-year results better than the Street view.

The stock was at its 52-week high of $129.83, early this month, after announcing better-than-expected fourth-quarter earnings. In the following few trading sessions the stock shed some of its gain. Again it started advancing during this week.

Wednesday, ZM rose $7.61 or 6.85% before before ending its trade at $118.71.