The trend towards home offices made the video conferencing service one of the big winners on the stock market. But now there are signs of change – and investors are turning away.
The video conferencing service Zoom was initially one of the big stock market winners during the Corona crisis – but now growth is slowing down, investors are turning away in droves.
On Tuesday, the shares of the Californian company slumped in US trading at times by more than 18 percent, heading for the largest daily loss since the IPO in April 2019. In the past three months, the price has fallen by a total of almost 42 percent.
Zoom initially experienced a boom during the pandemic and benefited greatly from the trend towards home offices. But the latest quarterly report revealed on Monday how much growth is now flagging. In the three months to the end of October, according to the company, revenues rose 35 percent over the previous year to $ 1.1 billion. For comparison: in the previous quarter the increase was 54 percent, in the previous quarter it was 191 percent.
Source From: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
