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Zoom (ZM) has been a stock market darling with the Work-From-Home investment theme during the COVID-19 global lockdown. Since the beginning of the year, Zoom has delivered a 200% return, while the S&P 500 has lost nearly 0.4%. We have written about Zoom's sky-high valuation before, and we still maintain the opinion that Zoom is significantly overvalued now.
Massive growth and profitable business
Zoom's bullish momentum has been fueled more by the first-quarter earnings results. In the first quarter of the fiscal year 2021, Zoom reported generating $328.17 million in revenue, beating analysts' expectations by