Why Zoom Video Stock Fell on Monday
Shares of Zoom Video Communications (NASDAQ: ZM) fell sharply on Monday, along with the stocks of many other high-flying work-from-home companies. The provider of a video collaboration platform saw its shares fall more than 7% at one point in the trading day. As of 11:45 p.m. EST today, however, the loss had been trimmed to 3.7%.
The stock's decline was likely driven primarily by news that Moderna's coronavirus vaccine was found to be about 95% effective in a clinical trial with more than 30,000 volunteers. Zoom stock's sell-off suggests some investors think shares could take a hit when effective vaccines are distributed, helping the U.S. and other countries return to more normalcy.
Image source: Zoom Video Communications.
Source Fool.com
