WORK - Fastly Zoom and Slack Are Soaring as the Coronavirus Crisis Deepens
Many technology stocks rose on Friday due to alarming developments in the COVID-19 pandemic. Companies whose business growth will benefit from a return to lockdowns, safer-at-home orders, and remote-work policies saw their share prices rising. The largest gains on Friday morning included a 5.4% gain by content delivery company Fastly (NYSE: FSLY) , a 6.9% increase for business collaboration expert Slack Technologies (NYSE: WORK) , and a 7.2% jump in video conference specialist Zoom Video Communications (NASDAQ: ZM) .
The number of new coronavirus cases in the U.S. surged to a new all-time high of 187,428 cases on Thursday. Infection rates are spiking dramatically in many states, including California, New York, Florida, and Texas.
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Fastly, Zoom, and Slack Are Soaring as the Coronavirus Crisis Deepens