Zoom adds 46 million downloads in September – stock soars by over 600% YTD
Data presented by Buy Shares indicates that video conferencing platform Zoom added 46.26 million downloads in September. The downloads were on both Android and iOS platforms.
Zoom benefitting from accelerated adoption of cloud-based communication
Android had the highest downloads at 32.17 million. For iOS, the iPhone recorded 10.86 million downloads, while the iPad had 3.23 million Zoom app downloads.
The Buy Shares research also overviewed Zoom stock prices on a year to date (YTD) basis. The stock has grown by a staggering 623.97%.
At the start of the year, Zoom stock price was $71.90, while on October 21st, it stood at $520.54. Zoom’s all-time stock price was registered on October 14th at $537.02.
The rise in Zoom stock price correlated with a period when the coronavirus pandemic was spreading across the world. The lockdowns imposed by authorities meant that video conferencing platforms were utilized for education, work, and personal use.
The research highlighted why Zoom stock remained high despite the easing of lockdown measures. According to the research report: “Even after lockdown measures were eased, Zoom stock has continued to grow since the pandemic ushered in a culture of working from anywhere. The pandemic accelerated the adoption of cloud-based communications, and Zoom being a pioneer, continues witness growth.”
Notably, Zoom has successfully addressed the security and privacy concerns that threatened its rise to the top.