Zoom Video Communications Inc., the poster child of the so-called “pandemic winners” basket, is losing more of its luster.
The video conferencing company slumped 12% in early trading to the lowest since June 2020. Its latest quarter showed slowing growth as people started socializing in-person -- also a trend that roiled the shares of other lockdown winners Peloton Interactive Inc. and Teladoc Health Inc. Including Tuesday’s losses, Zoom may see $100 billion wiped out from its market value since its October 2020 peak, which is a decline of about 62% for the stock. Despite the pullback, the stock is still up a whopping 500% since its 2019 debut.
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November 23, 2021 at 08:51PM
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Zoom Set to Lose $100 Billion From Peak Value as Pandemic Gains Fade - Bloomberg
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