Travel Zoom overtakes Exxon Mobil in market value amid COVID-19 pandemic
How the Pandemic Defeated America
A virus has brought the world’s most powerful country to its knees.How did it come to this? A virus a thousand times smaller than a dust mote has humbled and humiliated the planet’s most powerful nation. America has failed to protect its people, leaving them with illness and financial ruin. It has lost its status as a global leader. It has careened between inaction and ineptitude. The breadth and magnitude of its errors are difficult, in the moment, to truly fathom.
- Zoom Video has surpassed Exxon Mobil in market capitalization, according to data from YCharts.com.
- Zoom Video has surged 658% year-to-date as the video chat software company saw a boom in business amid the COVID-19 pandemic.
- Meanwhile, Exxon Mobil has lost 55% in value so far in 2020 as a significant slowdown in air travel and economic activity as a whole has put a dent in the demand for oil.
A nine-year-old video communication software provider is now worth more than an oil giant that can trace its founding back to John D. Rockefeller's 1870 formation of Standard Oil.
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Young people have reported higher levels of anxiety and depression during the pandemic, according to a new survey.Ever since COVID-19 reared its ugly head and upended our world, long-lasting symptoms of the virus have been varied and hard to pinpoint—until now. "A survey conducted by Dr. Natalie Lambert of Indiana University School of Medicine and Survivor Corps analyzed the long-term experiences COVID-19 survivors are having with the virus. The COVID-19 'Long Hauler' Symptoms Survey Report identified 98 long-lasting symptoms." Click through from least common to most common to see if you've experienced any.
In Thursday trades,is now worth $140 billion, surpassing market capitalization of $137 billion, according to data from YCharts.com.
The change in fortunes for Zoom and Exxon highlights how swiftly the COVID-19 pandemic has impacted the US economy, and life in general.
As rolling economic shutdowns swept across the US in late March due to the spread of COVID-19, schools and businesses relied heavily on the video chat software platform from Zoom to conduct daily life in a semi-normal state.
This led to a surge in business for Zoom, and helped power its stock higher by as much as 658% year-to-date. Within the, Zoom added 100 million new customers, representing a quick double.
How the Pandemic Has Immeasurably Altered Our Relationship With Tech
From Zoom to online shopping, virtual fitness to new ways of communicating, we’ve never been more reliant on technology in daily life. Given the reach technology has in every facet of our lives, and how central it’s been to our survival during Covid-19, Shondaland wanted to explore where tech is today, how we relate to it, where it’s headed, and the ways it will reshape our lives in the near future. © . line Holly Christopher has never been a fan of virtual communication. “I hate being on camera so I have successfully avoided FaceTime pretty much since it came into existence,” she says.
Exxon Mobil has been on the opposite side of Zoom's good fortunes. The company has lost 55% in market value year-to-date, partly due to depressed oil prices.
Demand for oil has taken a hit as air travel nearly came to a halt in March and April, and has yet to recover to pre-pandemic levels. Economic activity as a whole slowed down precipitously, not helping oil demand, and a supply glut in oil also hurt prices.
Exxon is still feeling the pain. The company said today it would slash 1,900 US jobs as it implements a cost-cutting initiative that will see its global workforce shrink by 15% over the next two years.
So what could reverse the fortunes for both Zoom and Exxon?The firm listed Zoom as a stock to short if the COVID-19 vaccine is developed.
A vaccine could lead to a swift return to normal life that would reduce reliance on Zoom video chats and help boost demand for oil as air travel and economic activity bounce back, or so the thinking goes.
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For months, as Marilyn Walters has struggled to recover from COVID-19, she has repeated this prayer day and night. Like other older adults who've become critically ill from the coronavirus, Walters, 65, describes what she calls "brain fog" — difficulty putting thoughts together, problems with concentration, the inability to remember what happened a short time before. This sudden cognitive dysfunction is a common concern for seniors who'veLike other older adults who've become critically ill from the coronavirus, Walters, 65, describes what she calls "brain fog" — difficulty putting thoughts together, problems with concentration, the inability to remember what happened a short time before.