Why Zoom Video Communications Stock Pulled Back Today
Shares of Zoom Video Communications (NASDAQ: ZM) pulled back on Wednesday along with some other popular work-from-home stocks. These enjoyed a good run in early 2020 due to unprecedented growth, but investors aren't sure if these gains will hold out in the new year. As of 12:45 p.m. EST, Zoom stock is down almost 6%. However, as Wall Street wonders about the company's future, Zoom clearly isn't resting on its laurels, as a news report today demonstrates.
According to digital news site The Information, Zoom is looking to disrupt business emails just like it disrupted business meetings. When the company filed to go public, it talked about how its video platform was just one part of the overall communications and collaboration market. By experimenting with email, and reportedly also with calendar software, Zoom appears to be setting its sights on expanding its focus to the entire communications and collaboration market it operates in.
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Source Fool.com
