The Stock Market's Down, So These Stocks Are Obviously Jumping

News that President Trump and several others recently traveling on Air Force One tested positive for the coronavirus initially sent stocks sharply lower, but major market benchmarks rebounded to cut their losses by midmorning.

Yet it will likely come as no big surprise to learn that some of the fastest-growing up-and-coming tech stocks in the market once again posted gains on a down day for Wall Street.

Despite the coronavirus news (or perhaps in part because of it), shares of software-as-a-service (SaaS) stocks had another strong day, with Twilio ( NYSE:TWLO ) leading the way.

The cloud communications specialist gave investors some good news in a filing with the Securities and Exchange Commission late Thursday.

Zoom Video Communications ( NASDAQ:ZM ) reported stellar growth figures in its most recent quarterly results, and others have followed suit with encouraging statements about demand from business customers and their need to accelerate their digital transformation plans because of the pandemic.

Customers that might ordinarily pull back from massive commitments for a one-time software license purchase instead are happy to keep paying subscription charges on a monthly or annual basis.

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