If you missed Zoom a year-ago in early 2020, you didn't buy it, you didn't jump in. I think these are both those times that were buying opportunities. The market loved it when COVID-19 hit and everybody just jumped into Zoom and now it's predictable that as we wind down from COVID, people are taking profits and getting out. The market loves Zoom early, it's a COVID-19 stock. I just knew we were going to come back and so it was ugly time for the stocks you're holding, but it's always exciting when you're trying to buy things to get a cheaper price. There was no question about it and I was a strong bull in that mess. But when COVID-19 was hitting a year ago, early 2020, you knew exactly why the market was going down. When you have that the whole market is going down, I just duck my head and try not to look. Sometimes, there's massive moves in stocks and sometimes the whole market is going down. What I love actually is when I know why the stock's going down and the market is wrong, and I know the market is wrong. Taylor Carmichael: That's a good question. Jason Hall: I think that's a key thing right there. You have to take it on a case-by-case basis. I think it's hard to have general rule for that. That revealed a pretty big crack in the business that I think a lot of us didn't anticipate. I think sometimes it can be a good reason to double down to invest in the stock if you spot a short-term reason, but other times, it feels more structural like what we saw with Peloton a few weeks ago. I remember Target had a movement like that earlier this year. Sometimes, you see a case of where the stock falls and it's very clear that the market's reacting to short-term, there's like, we dialed back our estimates because of the supply chain or sometimes it's even something like, we're reinvesting in the business, so profits are going to be a little short this next couple of quarters. But I think it really depends on the reason. Jeremy Bowman: I think nobody likes to see a stock like Zoom, which I do own fall. First, Jeremy, I'm going to ask you to kick us off here, how do you react when a stock in your portfolio or maybe one you've been watching really closely falls that much in a single day? Is it a buying opportunity or do you wait for the dust to clear? We have a two-part question and Trevor actually suggested this question to us earlier today. The stock today, I think it closed at a 52-week low, if it didn't close at it, it hit the 52-week low at some point today, that's for sure. I think there were five quarters in a row or maybe six quarters where revenue was up at least 160 percent, and it was up 300 percent, a couple of those.
That was a 68 percent increase, also beating Wall Street's analysts. Zoom released earnings yesterday, stock gets smashed again today. Jason Hall: But first, let's hit the Zoom thing again.
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