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Why Zoom Video's Stock Is Trading Higher Today

June 15, 2020 1:24 pm
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Why Zoom Video's Stock Is Trading Higher Today

Zoom Video Communications (NYSE:ZMshares are trading higher amid concerns of a resurgence in coronavirus cases.

The coronavirus pandemic has been a positive catalyst for Zoom due to increased demand for virtual communication platforms. States across the U.S. are partially reopening, which could increase uncertainty around Zoom’s future demand as office spaces start to fill.

Potentially as a consequence of the reopenings, coronavirus cases started to spike, which could decrease uncertainty around Zoom’s near-term demand.

Zoom Video provides a communications platform that connects people through video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video and connects users across various devices and locations in a single meeting.

Zoom Video's stock was trading 7.22% higher at $235.36 at time of publication on Monday. The stock has a 52-week high of $237.88 and a 52-week low of $60.97.

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