![]() ![]() ![]() Since, it has skyrocketed nearly 263% from its $36 initial offering price through Friday's close. Zoom Video Faces Price Target Cuts After Downbeat Sales, Shares TumbleRBC Capital reduced Zoom Videos price target from 150 to 130. The company went public on April 18, 2019. ![]() At the same time, a number of banks are forecasting recessions in the first half of 2020 due to the spread of COVID-19, the illness caused by the virus. The S&P 500, Dow Jones Industrial Average, and Nasdaq have slumped more than 30% from February highs, falling into a bear market and ending the longest bull-market on record. Global markets have been hit hard as the coronavirus pandemic worsens, threatening to significantly slow global growth. The virus has killed 477 and infected more than 39,000 across the country. In the US, millions of people are working from home as states such as Massachusetts, New York, California, and New Jersey issue orders banning employees at nonessential businesses from showing up at physical workplaces. Read more: 'Massive implications': One market bear breaks down how the Fed's unprecedented actions before the coronavirus turmoil may have opened the door to a 72% crash ![]()
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