Zoom Video Communications ZM shares are trading lower after Salesforce sold its stake in the company. Weakness also related to overall rotation out of technology names this week.
The technology sector has seen massive growth during the past few months as it has been a beneficiary of stay-at-home and social distancing guidelines. Investors are rotating out of technology names on potential profit-taking.
Zoom Video provides a communications platform that connects people through video, voice, chat, and content sharing. The company's cloud-native platform enables face-to-face video and connects users across various devices and locations in a single meeting.
Zoom Video was trading 7.18% lower at $232.06 at the time of publication. The stock has a 52-week high of $281 and a 52-week low of $60.91.
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