Zoom Stock Surged 425% in 2020: Is It a Buy for 2021?
Shares of Zoom Video Communications (NASDAQ: ZM) have been cooling down in recent months. In mid-October, the video conference specialist's stock peaked at a year-to-date gain of 817%. Today, Zoom's returns have calmed down to 425%. Is this a good time to invest in Zoom at a bit of a discount?
Zoom's stock soared in the spring as millions of people found themselves stuck at home during the coronavirus lockdowns. Office workers and their employers needed a user-friendly way to run business meetings on ordinary web cameras. Schools started running classes over Zoom. People found the digital experience to be a reasonable replacement for meeting distant family members in person.
Zoom is far from the only video communications game in town, but the platform quickly became the go-to solution. The Zoom service is easier to use than Cisco Systems' (NASDAQ: CSCO) WebEx, has more features than Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google Hangouts, and works on a much wider range of devices than Apple's (NASDAQ: AAPL) FaceTime.
Source Fool.com
