An IPO followed in 2019, and it became one of the top 100 most-valuable companies on the NASDAQ. In 2017, the company achieved "unicorn" status - a more than $1 billion valuation. The goal was always to provide video and other chat services via cloud, for business and education purposes. Today, it's based in San Jose, Calif., having grown extremely fast since the start. Zoom was founded in 2011 by ex-Cisco Systems Inc. We'll start with an overview of the company to understand why it will continue to dominate. The real question is, will it ever be the end of Zoom? Or does Zoom control the remote conference market? Is it capable of entering other markets? That's all to say, if demand for video conferencing truly ever slows down (it probably won't), it will not be the end of remote work. Zoom is also set to come out with a VR conferencing feature in 2022. You even have Facebook testing virtual reality (VR) meetings with their employees. And companies are bending over backwards to meet that demand. Many employees have even reported that they would quit their jobs if forced to come into the office.Ĭlearly, we see strong demand for remote work driving tech stocks. The report also shows an 87% increase in remote work from pre-pandemic levels. Today, one in four Americans works from home, according to a report from Upwork. But the virus did help accelerate our path there. Why Zoom Stock Is Not Done YetĬOVID-19 or not, telework was already set to become more commonplace. That's fueling our Zoom stock forecast for 2025 and beyond. People tapped into it long after lockdowns peaked. Really, video communication only showed us a fraction of its potential that year. Well, the market could not be more wrong. Since the rise, Zoom has lost about 52%, now trading around $276. Somehow, the market thought this was only temporary. Between January and October 2020, Zoom stock soared from $66 to $559, a gain of 746%. (NYSE: ZM) may have been the most buyable stock of the year when the pandemic started. Save my name, email, and website in this browser for the next time I comment. Sign me up for the Money Morning newsletter Your email address will not be published. Or to contact Money Morning Customer Service, click here. Comment on This Story Click here to cancel reply.
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