Stock markets’ movements are impossible to predict with certainty, even in the quiet and calm times. With the COVID-19 pandemic, which shows no signs of stopping or even throttling down, it has become even more difficult to create any meaningful predictions.
The pandemic has caused a rollercoaster in some markets that saw the initial reaction to the pandemic—a sharp drop—switch into an optimistic rise. As the markets deal by monitoring the COVID-19 risk attitude, the curious stock behavior is also taking companies by surprise.
For some, however, there’s nothing curious about it. The EdTech company Stock Sharks, for example, predicted the Overstock stock surge two years early. Now, it’s managing to thrive despite the pandemic.
Dealing with the Financial Fallout from the Pandemic
Stock Sharks is a company dedicated to creating a strong community around its EdTech offering, as its co-founder Sheraz Ali keenly explains. One of the core aspects the company would single out as being critical to their success is the level of attention it pays to customer relations. The approach seems to be worth the effort, even during this pandemic.
Business has been good for the EdTech company, which saw a 65% yearly increase, mostly due to improving environments for traders and investors. The pandemic, however, affected their business, too. In an effort to help their members shore up their investments for the upcoming pandemic, they inadvertently started a word-of-mouth campaign that saw their membership double.
The company has always believed that recommendations are the strongest form of marketing, and their bet has paid off. Their community spirit and willingness to go one-on-one with their members were only a part of it. The research skills the two co-founders wield was the other part.
Looking to What’s Coming Next
This pandemic will not last forever. With the number of candidate vaccines reaching the third stage of research increasing, even the most pessimistic predictions seem to be placing the invention of the vaccine sometime during 2021. For businesses, this means there are plans to be made. All that effort to stay afloat needs to be followed with a plan to bounce back as soon as possible.
With its growing membership base, Stock Sharks is handling the staying afloat part more than fine. This year saw the introduction of a custom chat interface, a major feature for a company that prides itself on frequent and direct communication with its customer base. As for the future expectations, Sheraz Ali says the company plans to have fully functional EdTech software by next year. The future also brings the further introduction of AI into their offering, giving existing members something to look forward to, and enticing new members to join.
The best place to follow Stock Sharks is Instagram, at @stocksharks.