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Stock impact report

Zoom shares slip over security concerns, rising competition [Toronto Globe and Mail (Ontario, Canada)]

Zoom Video Communications, Inc. - Class A (ZM) 
Last zoom video communications, inc. - class a earnings: 3/4 04:20 pm Check Earnings Report
Zoom shares slip over security concerns, rising competition Shares of Zoom Video Communications Inc fell 8 per cent on Monday, adding to their sharp declines in the past few days, as the video conferencing app battles privacy concerns and increased competition from deep-pocketed rivals. The stock had surged to a record high in March as demand for the app skyrocketed with millions of people around the world using it for everything from school lessons to business meetings amid lockdowns imposed to slow the spread of the coronavirus. But multiple reports last week that questioned the company’s data privacy practices have spooked investors, erasing nearly a third of the company’s market value from its record high. The stock was last down 7.9 per cent at $118.05 on Monday and was the worst performer on the Nasdaq. Brokerage Credit Suisse downgraded Zoom stock to “underperform” from “neutral”. Analysts on average rate the stock “hold”, according to Refinitiv data. “While implied new custome Show less Read more
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