Zoom gained 72% on its first day in the stock market
Apr 19, 2019
Zoom is the latest tech company to join the stock market, but what makes Zoom different from its peers is that the company is profitable. Zoom had initially set the price per share between $28 and $32, then raised it to $35, but it turned out to be a very conservative price as the stock closed skyrocketed to close at $62 on its first day. The value gives the company a market cap of about $15.9 billion. Zoom's performance is surprising because most tech firms that enter the market have burned through piles of cash and have millions of dollars worth of losses, but Zoom has always focused on sustainable growth based on profitability.