Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why RingCentral Stock Tumbled Almost 18% in May

TheMotleyFool

0 0

Why RingCentral Stock Tumbled Almost 18% in MayPhoto, wide shot, wide-angle lens, Telecom equipment supplier, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/ad10ed87-71d0-4096-a50b-ba9470f8264b.png

Shares of RingCentral (NYSE: RNG) tumbled 17.7% in May, according to data provided by S&P Global Market Intelligence, as the cloud-based workplace communication and collaboration platform looks to be having difficulty shedding the image that it's more than just a pandemic play.

Much like Zoom Video Communications (NASDAQ: ZM), with which it partners (but is increasingly becoming a competitor to), RingCentral's business boomed during the COVID-19 outbreak as many employees were forced to work from home and use cloud-based video and teleconferencing technology.

Image source: Getty Images.

Source Fool.com

Like: 0

RNG

Share