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Why Zoom Video's Stock Is Trading Lower Today

Why Zoom Video's Stock Is Trading Lower Today

Zoom Video Communications (NASDAQ: ZM) shares were trading down in Monday's premarket session following positive coronavirus vaccine development news from Pfizer (NYSE: PFE).

Zoom has gained more than 600% in 2020 as a work-from-home stock play in the wake of global public health lockdowns enacted to decrease the spread of COVID-19. 

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, which was founded in 2011 and is headquartered in San Jose, California, serves companies of all sizes from all industries around the world.

Zoom Video Communications shares were trading down 14.68% at $426.67 premarket Monday. The stock has a 52-week high of $588.84 and a 52-week low of $62.02.

Courtesy photo. 


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