Why Zoom Stock Jumped Today
Shares of Zoom Video Communications (NASDAQ: ZM) climbed 5.7% on Friday, as investors rotated into stocks positioned to perform relatively well during a resurgence of COVID-19.
The discovery of a new coronavirus strain sparked a violent sell-off in the financial markets. Health officials are worried that the heavily mutated variant, which is referred to as B.1.1.529, could be highly contagious. They also don't know if currently available vaccines will be able to provide adequate protection against it.
Government leaders in the U.S., Europe, and Asia acted swiftly to restrict travel to and from South Africa and other African countries. The actions are designed to slow the spread of the new coronavirus variant. However, due to the global nature of international trade, it might only be some time before the strain spreads across the world.
Source Fool.com
