Elon Musk's SpaceX Bans Employee Use Of Zoom: Report

Tesla TSLA CEO Elon Musk's rocket company SpaceX is banning employees from using video conferencing app Zoom Video Communications ZM, citing "significant privacy and security concerns," Reuters reported Wednesday.

On Monday, the New York Times reported that the office of the New York Attorney General is probing Zoom’s data privacy and security practices.

In a letter to Zoom, the AG's office asked the telecommunications company what security measures it has taken in light of the increased traffic on its network, according to the Times.

Zoom Video shares were down 10.44% at $122.70 at the time of publication Thursday. The stock has a 52-week high of $164.94 and a 52-week low of $59.94.

Related Links:

Zoom Shares Drop As New York Attorney General Looks Into Company's Privacy, Security Practices

Zoom Video Falls Despite Q4 Earnings Beat, Strong Guidance

Photo courtesy of SpaceX.