Zoom drops after Facebook announces video-chat competitor [MSN Money]
Meta Platforms, Inc. - Class A (FB)
Last meta platforms, inc. - class a earnings: 4/29 04:05 pm
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Source: MSN Money
Facebook on Friday announced "Msger Rooms© Associated PrsRooms will directly compete with Zoom , Google Hangouts, and Microsoft Skype, three popular video confercing platforms that have se a surge in demand as millions across the globe are under stay-at-home orders.Load ErrorPrior to today's Facebook announcemt, shar of Zoom were trading at all-time highs on news that the company had surpassed 00 million daily users and was going to be included in the Nasdaq 00 Index on April 0. Shar of Zoom traded at $80 this afternoon, but ultimately fell to an intraday low of $58.0 after Facebook made the announcemt, reprting a decline of more than %.Facebook invtors cheered the news, sding shar to an intraday high of $90, reprting a more than % increase in afternoon trading. Facebook will report earnings after the market close on March 9.Read more:The CIO overseeing $70 billion at Guggheim says stocks will plunge another 7% from currt levelsRead MoreMicrosoft may earn an Affiliate Commission if yo
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