Exxon Mobil was operating in the red and Wall Street was concerned it would have to cut its dividend.Įxxon stock then traded below its book value and had shareholder equity of $184 billion against just $1.5 billion for Zoom, which then fetched almost 300 times earnings. Its stock had run up fivefold since the start of the pandemic in March 2020 and was valued at $162 billion at its peak in October 2020, against $139 billion for Exxon Mobil.Īt that time, oil prices were $40 a barrel (against $112 now) and natural gas was $2.50 per thousand cubic feet (versus nearly $9 now). Stay-at-home stocks were market darlings and Zoom Video was one of the biggest favorites. News of favorable results from its Covid vaccine clinical trial signaled a reopening of the American economy. It was a different in October 2020 before

Zoom Video is down over 80% from its October 2020 high of $572 and now trades at around $100, valuing the videoconferencing company at $30 billion, or less than a tenth of Exxon Mobil’s current market value.

It’s worth recalling that in October 2020, Exxon stock traded at a third of its current price and was valued at less than

Zoom stock in march 2020