Zoom skyrockets 15% to an all-time high ahead of quarterly earnings
Famed economist David Rosenberg says investors are falling into a classic market trap that's historically preceded a further meltdown — and warns 'there's not going to be much of a recovery'
Even though all 50 US states have started to relax their coronavirus lockdown restrictions, not all workers will be returning to their offices anytime soon — Twitter and Square have adopted indefinite work-from-home policies, while Facebook said it expects half of its employees to telecommute for the next several years.
Also on Monday, Rosenblatt raised its price target on shares of Zoom to $150 from $95, sending shares higher. The firm reiterated its neutral rating on the company. Zoom has an average price target of roughly $128 from Wall Street analysts, and nine "buy" ratings, 15 "hold" ratings, and five "sell" ratings, according to Bloomberg data.
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