Zoom Is Down 88% From Its All-Time High, Is Cathie Wood Still Right About This Once Unstoppable Stock?
The spread of COVID-19 emptied out offices around the world. Employees at all levels worked from home and relied on enhanced cybersecurity protocols and video conferencing tools to stay productive.
One company that played a big role in the shift to remote work was Zoom Video Communications (NASDAQ: ZM). Unsurprisingly, Zoom experienced unparalleled demand as businesses required the ability to meet virtually. Moreover, as corporate executives touted the benefits of remote work, many started to believe that returning to the office would be optional.
As such, investors poured into Zoom stock under the assumption the company would be the ultimate staple of work-from-home conditions. One of the most bullish outlooks on Zoom comes from Ark Invest, led by CEO Cathie Wood. Ark holds positions in Zoom through its exchange-traded funds (ETFs), and analysts there believe the stock could soar about 2,100% by 2026.
Source Fool.com
