Amidst the ongoing pandemic that has enveloped the world and has essentially put economies in a standstill, there are profitable opportunities that abound in the stock market, particularly in the tech sector. Here are four tech stocks that are making huge moves:
Valued at a market cap of almost $159 billion, Netflix has enjoyed a new influx of consumers signing up for their monthly streaming service. Because of the stay-at-home protocol that many cities are implementing, more people are stuck indoors. From there, it’s easy to convert these people into paying customers. So far, NFLX stock price has gained a whopping 12 percent YTD, which is impressive considering the fact that most businesses and companies are struggling to stay above water.
Slack Technologies (WORK)
Slack is one of the newcomers in the stock market, only making its IPO debut in 2019. Slack is currently valued at $13.5 billion, but there is more space to move. With the work-from-home precaution in place, more companies are turning to third-party tools to keep their workforces organized and communicating seamlessly, and Slack happens to be one of the big brands in this multi-billion dollar space.
Zoom Video Communications (ZM)
Few people knew about Zoom at the beginning of the year, but now it’s become a common expression to “zoom” with your team or circle of friends. ZM has a market cap valuation of roughly $36 billion. Similar to Slack, Zoom has benefited from the fact that more employees are working from home, and companies are paying millions of dollars to build a reliable infrastructure for communications and organization.
Society has a love-hate relationship with Bezos and his quickly growing fortunes, but for the average investor, the massive price moves that Amazon is making right now is an opportunity too good to pass on. Currently, the company’s stock price is playing around the $1,900 per share range. And while you’d think that’s steep and possibly even overpriced, the company has only grown 3% this year.
Tech stocks remain one of the best sectors of the stock market to invest in. Even during these trying times, there are several opportunities to profit without taking an unnecessarily high level of risk.