Why Zoom Video Communications Stock Fell Today
Shares of Zoom Video Communications (NASDAQ: ZM) have fallen today, down by 6% as of noon EST, amid growing concerns around privacy and security on the platform. CEO Eric Yuan penned a blog post to address the mounting criticism.
Usage of Zoom's video-calling platform has skyrocketed amid the COVID-19 pandemic, with Yuan noting that Zoom reached 200 million daily meeting participants in March (including both free and paid users). With that soaring usage, malicious actors have been increasingly hijacking video conferences in what is now being referred to as "Zoombombing." Elon Musk's rocket company, SpaceX, has banned Zoom for internal meetings, according to Reuters.
Image source: Zoom Video.
Source Fool.com
