This Stock is Soaring

Today’s chart shows a company that helps folks stay in touch during the coronavirus lockdown…

The COVID-19 outbreak has scattered much of the world’s workforce out of their offices and into their homes, and it keeps families and friends from visiting each other.

Helping folks communicate remotely is an essential business right now.

And this Internet-based communications firm is one of the winners…

Bandwidth (BAND) is a $2 billion software company that supports online calls and messages.

Its customers include Alphabet’s (GOOGL) Google, Microsoft’s (MSFT) Skype, and Zoom Video Communications (ZOOM).

Bandwidth typically charges less than a penny per minute for calls through its dedicated network, but that adds up in a hurry – especially with more people using these services amid today’s lockdowns. Sales hit $68.5 million in the most recent quarter, up 29% year over year.

Since Bandwidth went public in late 2017, its shares have exploded about 400% higher. They just hit a new all-time high. As folks keep working remotely, the company’s good fortunes should continue…

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Source: Daily Wealth Market Notes