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Is Now The Time To Buy Nio, Zoom, Amazon Or DoorDash Stock?

December 29, 2020 8:20 am
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Is Now The Time To Buy Nio, Zoom, Amazon Or DoorDash Stock?

One of the most common questions traders have about a stock is: “why is it moving?”

That’s why Benzinga created the Why Is It Moving, or WIIM, feature in Benzinga Pro. WIIMs are a one-sentence description as to why that stock is moving. 

Here’s why shares of Nio, Zoom, Amazon and DoorDash are moving. 

Nio Stock News

Nio operates in China's premium electric vehicle market. The company designs, jointly manufactures and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving and artificial intelligence.

Rounding out 2020 earnings, Nio on Nov. 17 reported above-consensus third-quarter results thanks to strong deliveries and margin improvement.

Why are shares of Nio moving? Recently, shares of several Chinese electric vehicle manufactures were trading lower as a potential sell-off after the sector's recent rally in November and December.

Zoom Stock News

Zoom Video Communications provides a video-first communications platform in the Americas, the Asia Pacific, Europe, the Middle East and Africa. The company's product portfolio includes Zoom Meetings and Zoom Phone, which offers HD video, voice, chat, and content sharing through mobile devices, computers and conference room systems.

Zoom shares are trading lower, potentially amid profit taking following the stock's 2020 surge. 

COVID-19 vaccine optimism may also be weighing on the stock, as a vaccine rollout by Moderna (NYSE:MRNA), Pfizer (NYSE:PFE) and AstraZeneca (NASDAQ:AZN) could decrease usage of virtual communication platforms.

Amazon Stock News

As one of the world’s highest-grossing e-commerce platforms, Amazon is more than retail services alone. The tech giant's revenue streams also include Kindle; Audible and Music subscriptions; and the IT service management subsidiary AWS. 

Amazon.com shares are trading higher amid market strength after President Donald Trump signed a $900-billion coronavirus relief bill on Sunday.

DoorDash Stock News

DoorDash develops technology for restaurants and other merchants to connect with customers through a delivery application. The company serves customers in the United States.

DoorDash shares are trading lower amid continued volatility following the company's recent IPO. COVID-19 vaccine optimism has also lifted restaurant and reopening stocks, which may be weighing on the outlook for food delivery services.

Photo courtesy of Zoom. 

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