Walking a straight line towards the hopes of being wealthy is certainly something that is seen more common among various groups of people. Even a second can change a person’s life for the better or the worse.
For instance, Zoom Video Communications Inc. Had its shares increases almost up to 26% making it $410 in the late USA trading. The Chief Executive officer Eric Yuan reported that there was an increase of $4.2 billion to his name in a company meeting. Recently, trading in has reported a huge leap after reporting the quarterly revenue earnings. Professionals, As well as the employees, expect this growth to be continuously increasing and will continue forward. The stock market has gained a substantial jump indeed. On Tuesday, Mr Yuan has surpassed his fortune by $20 billion. At this point, it is no joke that we have seen a mind-blowing change in the list of richest men/women in the Tech world. Amazon’s Jeff Bezos has broken the record of being the first man to reach the wealthiest man alive, $200 Billion to exact. His net worth grew by a whopping $13 Billion. Same goes for Tesla Inc.’s Elon Musk who Added $8 Billion to his bank account. In just 24 hours both these men have successfully crossed numerous records and are still shows no sign of slowing down.
Undoubtedly Zoom was one of the main beneficiaries from the coronavirus pandemic in business, educational institutions and various service sectors. They were the main communication mediums used to contact with the students, employees and people involved in the subject matter. The sales of the company have shown a drastic increase, Close to 355% which would amount to $664 million in just three months. According to Bloomberg, this increase in the search has listed the company in the NASDAQ 100 Index behind The Moderna Inc. Zoom has predicted the sales will increase and will be as much as $2.4 Billion in the fiscal year ending January. This observation means that the revenue would increase 4 times in a single year.
San Jose’s Founder was the man who gained the most can the shares of Zoom Inc. he had more than 50 Million Zoom shares which made him rich in a matter of hours. As of Monday, the stock market activity surged an unexpected level. The shares last traded saw $400, up by 23% from the closing price.
This is how the share market works and the multiplicative nature of share prices. A person can make a lot of money and also at the same time lose money in share market just within a matter of minutes. It is key to understand the importance of a diversified portfolio and how the market changes can impact your survival in the stock market. Be clever, study the market, build a strong portfolio and invest wisely.
