Zoom's Stock Hits All-Time High Again
The shares of Zoom, a communications technology company that provides video telephony and online chat services through a cloud-based software platform, hit a new all-time high at the start of Tuesday's trading day.
To date, the company's stock has already gained more than 4%, breaking the $506 resistance, according to @thetradejourney
$ZM Intraday Update: (15min) Testing resistance. A break above the purple resistance will lead to run higher. @thetradejourney via Twitter
Now that the company's stock has successfully renewed the all-time high, @psk2329, a trader and an analyst sees growth prospects to above $511 per share.
$ZM nice move today, good strength into Zoomtopia event, room to 511s here @psk2329 via Twitter
He states that this growth is linked with the Zoomtopia event. This year's Zoomtopia, the annual user conference, will take place in a virtual format for the first time this year. This, apparently, does not diminish the rapture of investors, since the shares are growing confidently before the event, which will begin tomorrow, October 14th.
Zoom's Astonishing Results in 2020
Zoom, on par with a streaming giant Netflix, is one of the few companies clearly benefitted from isolation and virtual communication.
Zoom has seen an all-time rally since the start of the year, up an incredible 630%. Besides, the company is one of the few in the tech sector that managed to quickly overcome the correction in early September, and now again updates all-time highs every day.