Why Zoom Shares Fell Nearly 4% Today
Zoom Video Communications (NASDAQ: ZM) lost 3.8% on Wednesday, extending a pullback rooted in growing doubts about the company's future growth.
Don't look for a specific news-based reason Zoom stock is more than a little bit in the red today. You won't find it. Rather, read between the lines -- investors are growing increasingly concerned about the stock's valuation. Shares are now down 10% from last Thursday's surge as the budding rebound effort that first materialized in May continues to struggle.
Thursday's high marks the fourth-lowest major high from Zoom since peaking at $588.84 in October. The current price near $358 is not only down nearly 40% from that peak, but within striking distance of a new multi-week low as well.
Source Fool.com
