Coronavirus: The vaccine is coming, Zoom stock is falling apart

The prospect of a Covid-19 vaccine may have raised hopes around the world and sent stocks soaring, but the message for the Zoom platform was rather ominous: the US communications technology company’s stock is sinking in the New York Stock Exchange. The platform, which since the beginning of the pandemic has allowed millions of employees, students, relatives and friends to communicate via video conferencing, has seen its share fall 13.15% on Wall Street to $ 435.1. The vaccine will reduce teleworking and distance learning. The pharmaceutical companies Pfizer and BioNTech announced earlier today that the vaccine they are preparing for Covid-19 has been shown to be 90% effective, according to the first analysis of the clinical trial. before seeking the approval of regulators to distribute it. A vaccine could therefore be is available relatively soon, which means that employees will gradually return to their offices, students to school and the use of the Zoom platform for meetings and teaching will be limited. Restrictive measures that have been in place for months around the world have increased The use of this platform. To the point that many no longer talk about “video conferencing” but about “zoom conference”. “Zoom went public in April 2019, with a share of $ 38, and reached $ 600,” said Tom Cahill of Ventura Wealth Management, noting that the stock traded at $ 38 billion in January 2019. that “this increase was not sustainable”. Many business trips were canceled due to the pandemic and one of the companies that benefited from this crisis was Zoom: press conferences negative meetings, business meetings, court hearings were most often held through Zoom all these months. But the announcement of the two pharmaceutical companies hinted that sometime in the following year, “perhaps at the end of the second quarter or the beginning of the third, “There will be a return to normalcy,” Cahill explained. .Source: ΑΠΕ-ΜΠΕ-AFPFollow it on Google News and be the first to know all the newsSee all the latest news from Greece and the world, at

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