Zoom Stock: Buy, Sell, or Hold in 2023?
During the pandemic, Zoom (NASDAQ: ZM) became a red-hot growth stock as people flocked to its video conferencing platform for remote work, online classes, and staying in touch with family and friends. As a result, its stock skyrocketed to an all-time high of $568.34 on Oct. 19, 2020.
But as the pandemic passed, Zoom's growth cooled off and more competitors crept into its backyard. Rising interest rates exacerbated that pressure by driving investors away from pricier growth stocks, and Zoom's stock tumbled all the way back to the high $80s. Zoom has clearly taken investors on a wild ride over the past two years, but could this volatile stock finally stabilize and rally again in 2023? Let's compare the main reasons to buy, hold, or sell Zoom's stock.
Image source: Zoom.
Source Fool.com
