Work at Home Policy Driving Teleconferencing Stocks to Higher Highs

Thanks to the coronavirus, teleconferencing stocks have been explosive.

In fact, on May 4, 2020, we brought four of them to your attention:

·    Zoom Video Communications (ZM)

·    Slack Technologies (WORK)

·    RingCentral Inc. (RNG)

·    LogMeIn Inc. (LOGM)

Since the start of May, ZM ran from a low of $140.45 to $172.  WORK ran from $26.16 TO $30.50.  RNG ran from $216.109 to $267.50.  LOGM has remained flat.

With the exception of LOGM, we could see higher highs in related stocks.  All as more people begin to work from home with the coronavirus making its rounds.  Twitter for example will allow its employees to work from home forever.  

According to Twitter, it was “one of the first companies to go to a work from home model in the face of COVID-19, but we don’t anticipate being one of the first to return to offices. We were uniquely positioned to respond quickly and allow folks to work from home given our emphasis on decentralization and supporting a distributed workforce capable of working from anywhere. The past few months have proven we can make that work. So, if our employees are in a role and situation that enables them to work from home and they want to continue to do so forever, we will make that happen.”

Amazon just extended its remote work policy through Oct. 2020.  Facebook and Google extended it through the end of the year.  

In addition, according to a CNBC survey,”83% of tech workers say they’ve been able to work from home in recent weeks, and many want their new routines to stick. More than a quarter (27%) say they’ll want to work from home all the time from now on, and 36% say they’ll want to work from home more often than they used to. Just 5% say they’ll want to work from home less often than they had previously, and a mere 2% never want to work from home again.”