The stock's decline was likely driven primarily by news that Moderna 's coronavirus vaccine was found to be about 95% effective in a clinical trial with more than 30,000 volunteers.
Is Zoom a good stock to buy?
Nov 23, 2021 · Shares of Zoom fell Tuesday after the video-chat company warned investors of a revenue slowdown. The report led Wall Street banks to slash price targets on the stock. In this article ZM -0.25...
How much further could zoom stock fall?
The stock's decline was likely driven primarily by news that Moderna's coronavirus vaccine was found to be about 95% effective in a clinical trial with more than 30,000 volunteers. Zoom stock's ...
Is now the time to sell your zoom stock?
Oct 05, 2021 · Zoom is starting to see growth slow as the urgency of the pandemic fades. The company's acquisition of Five9 fell apart, throwing a wrench in its plan to diversify revenue. Zoom stock has already...
Why does zoom keep going down?
Nov 05, 2021 · Why Zoom Shares Are Falling Zoom Video Communications Inc (NASDAQ: ZM) shares are trading lower in possible reaction to positive data from Pfizer for its COVID-19 oral antiviral treatment...
What happened
Shares of Zoom Video Communications ( NASDAQ:ZM) fell sharply on Monday, along with the stocks of many other high-flying work-from-home companies. The provider of a video collaboration platform saw its shares fall more than 7% at one point in the trading day. As of 11:45 p.m. EST today, however, the loss had been trimmed to 3.7%.
So what
Monday's sell-off in work-from-home growth stocks like Zoom is reminiscent of a sharp decline in these stocks last week, when Pfizer and BioNTech announced similar success in human trials with their jointly developed COVID-19 vaccine.
Now what
Investors will look to Zoom's upcoming fiscal third-quarter report on Nov. 30 to see whether this momentum continued during the period. Based on management's guidance for revenue between $685 million to $690 million during the period, it likely did.
NASDAQ: ZM
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The pandemic darling has been tumbling for a year, and there could be more pain to come for shareholders
Owning shares of Zoom Video Communications ( ZM -5.14% ) during the first six months of the pandemic was a dream. Capable video-conferencing software became an absolute necessity for businesses overnight, and the path of least resistance was Zoom's easy-to-start and easy-to-use product.
No longer zooming
Even though Zoom's financial results continued to impress through much of 2021, the stock has been steadily declining for the past year. Zoom stock reached an all-time high of $588 last October. Today, trading at around $260 per share, the pandemic darling is down 55% from that high.
Growth hits a wall
Zoom expects to report lower revenue in its third quarter than it reported in its second quarter. It's possible that Zoom's revenue will eventually start to decline on a year-over-year basis as its customers adjust to the post-pandemic world.
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Who is Evan from Motley Fool?
Evan is a Senior Technology Analyst at The Motley Fool. He was previously a Senior Trading Specialist at Charles Schwab, and worked briefly at Tesla. Evan graduated from the University of Texas at Austin, and is a CFA charterholder.
Is Zoom being distributed on the dark web?
A cybersecurity research firm also discovered that compromised Zoom accounts are being distributed on the dark web, according to Yahoo! Finance. Internet trolls expressed interest in "Zoombombing" the video conferences, but internal company meetings could potentially include sensitive information.
Is Zoom safe in Taiwan?
The Taiwanese government has instructed its agencies not to use Zoom, according to Reuters. Government agencies should instead use other tech platforms that are more secure for videoconferencing. Taiwan is the first government to officially warn against using Zoom.
Why is Zoom growing?
Why has Zoom experienced explosive growth? The Covid-19 pandemic has fueled Zoom’s growth as more companies use Zoom’s platform for meetings and collaboration, while individuals use Zoom to stay in touch with friends and family. Social distancing rules and closed offices has led to a substantial increase in Zoom’s user base, financial performance and stock price.
What is the IPO price of Zoom?
Think of it this way: Zoom is the poster child of the work from home movement. In April 2019, Zoom announced its IPO priced at $36 per share , which implied a market capitalization of approximately $9.2 billion. This year, Zoom’s stock has risen by 600%.
Is Zoom being banned?
With that soaring usage, malicious actors have been increasingly hijacking video conferences in what is now being referred to as "Zoombombing." Elon Musk's rocket company, SpaceX, has banned Zoom for internal meetings, according to Reuters.
Who is Evan from Motley Fool?
Evan is a Senior Technology Analyst at The Motley Fool. He was previously a Senior Trading Specialist at Charles Schwab, and worked briefly at Tesla. Evan graduated from the University of Texas at Austin, and is a CFA charterholder.
