NEW YORK: The surge in shares of Netflix, Zoom and other of this year's stay-at-home corporate winners has been brought to a sudden halt byThe jury was still out on Tuesday, however, as to whether that reverse, sparked by positive data from trials run by US drugs giant Pfizer and Germany's BioNtech , would last.Shares in video conferencing network Zoom fell 4 per cent on Tuesday after plunging about 17 per cent a day earlier.
The shakiness of moves may have reflected both those doubts about the speed at which a vaccine can be produced and distributed as well as the remaining doubts about whether it will work as a solution in the long-run.But there is also the conviction that the pandemic has fundamentally changed business for many of these companies in ways that will not be reversed.
An outstanding beneficiary among tech stocks from the shift to work from home is Zoom, whose shares have jumped over 460 per cent this year as corporate firms, schools, and organisations run countless virtual meetings on its video conferencing app.Amazon.com Inc and Microsoft Corp have seen a substantial boost to their business but the capital they have available for new investment has soared as a result - potentially giving them more leverage going forward.
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