After booming more than 125% in 2020 to date, Wix.com (NASDAQ: WIX) has a market cap of $15.3 billion, making it Israel's second largest company, just behind cybersecurity firm Check Point Software. With many in-person operations being rendered redundant during the COVID-19 crisis, small businesses and professionals have been scrambling to implement continuity plans, and Wix has been a big beneficiary.
It's unclear how long the digital bump will last, but after investing in new web-based applications, it's unlikely most businesses (or their customers) will completely revert to the way things were before once the novel coronavirus has been beaten. Over the long term, that bodes well for Wix, though shares are priced at a high premium as of this writing.
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