‘Normal Volatility’“I don’t think the trend around e-commerce, video collaboration or shift-to-cloud will change as a result of the vaccine," said Bloomberg Intelligence analyst Mandeep Singh. “The valuations look rich for some of these names, but some of these are multiyear growth stories.
This is just normal volatility as investors look to rotate into sectors that have been depressed due to the pandemic such as travel, casinos and hospitality."Zoom shares fell 17% in New York, erasing $5.1 billion from Yuan’s net worth.
He’s sold more than $275 million of Zoom stock this year and is still worth $20 billion, according to the Bloomberg Billionaires Index.