Zoom Actions Go Up With Covid-19 Variant Discovery

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Zoom: The stock market woke up with sudden changes this Friday (26) because of worrying news regarding the covid-19 pandemic. The novelty is the identification of a variant of the SARS-CoV-2 virus, B.1.1.529, which appeared in South Africa and has a high capacity for mutation and transmissibility compared to the strains already cataloged.

And it is this fear of new waves of contamination around the world that has generated a rise in the shares of companies linked to remote work. According to CNBC, video conferencing company Zoom and home gym equipment company Peloton got up 7% and 6%, respectively.

The expectation is that the services provided by these companies, which could start to slow down with the resumption of face-to-face visits to places of work and study, will once again be requested in the worst case.

For now, the scenario is uncertain: there is a lack of consistent studies that detail the action of B.1.1.529 and also the effectiveness of current vaccines against these variants.

For Zoom, however, the news of the sudden valuation was especially positive: the company is going through a difficult time reporting a drop in revenue and recently being fined $86 million for a breach of privacy.