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Why Zendesk and Momentive Stocks Tumbled Today

TheMotleyFool

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Why Zendesk and Momentive Stocks Tumbled TodayPhoto, wide shot, wide-angle lens, Telecom equipment supplier, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.theapi.app/temp/3967c11c-b755-4d39-87d0-acc853384c80.png

Shares of software-as-a-service customer support specialist Zendesk (NYSE: ZEN) and survey software company Momentive Global (NASDAQ: MNTV) both tumbled on Friday. The two stocks fell as much as 22.7% and 16.1%, respectively, though their shares were down 20.7% and 10.8% as of 11:18 a.m. EDT today.

The two tech stocks' declines come as investors digest the news that Zendesk plans to acquire the SurveyMonkey owner in an all-stock transaction.

Image source: Getty Images.

Source Fool.com

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