Zoom’s investors had a good return in 2020 after the price opened at $67.23 to reach an all-time high of $588.21, which is over 8X. During the lockdown, many meetings and conferences were held virtually as Zoom was the favorite of many organizations. However, 2021 is the worst year for $ZM investors since its IPO in 2019. The opening price for Zoom this year was $337.07. As offices began to open due to the mass vaccination of people in different countries across the globe, the price of Zoom began to fall. The hope that showed in July 2021 as a result of the monthly candlestick was dashed away when all gains were lost in August 2021.
The current share price of Zoom is at $218.79 which shows that Zoom investors have lost 35% from the opening price of this year. A breakout to the downside has occurred from the August 2020 support level at $233.23. Is this going to be a continuous downtrend? The next few weekly candlesticks will determine the next direction. The share price of Zoom is currently at the lowest since June 2020 at $211.41. There are tendencies that the share price of Zoom might rise to $400 as many countries begin to lock their borders due to the new cases of the Omicron variant of the coronavirus. As countries begin to lock borders, this might eventually affect the workspace. Companies might fall back to the remote ways which worked during the lockdown.
Some of these ideas are in our clients’ portfolios. To understand which ones can work for you or for help to invest for your own wealth, talk to our advisors at FM Capital Group. Would you like more information on Investment Advisory, Portfolio Services, and VC? Schedule a meeting with us here.