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Zoom Stock Slides for Third Straight Day, Closing $20 Below 52-Week High

  • Zoom Video Communications Inc. stock fell 1.83% on Tuesday, underperforming the market
  • Shares slid to $69.34 amid a grim trading session for stocks
  • This was the stock's third consecutive day of losses
  • Zoom closed $20.33 short of its 52-week high of $89.67
  • Trading volume was 1.3 million below its 50-day average volume of 3.7M
marketwatch.com
Relevant topic timeline:
Shares of NVIDIA Corp. fell 2.77% as the stock market experienced a poor trading session, with the S&P 500 Index dropping 0.28% and the Dow Jones Industrial Average falling 0.51%.
ZoomInfo, a commercial contacts database company with a focus on AI, has seen a decline in its stock price despite impressive growth and a strong customer base, making it an undervalued investment with long-term potential.
Zoom Video Communications is expected to outperform in the stock market, with one analyst predicting it could soar by 1,991% by 2026, as the company continues to grow and attract customers despite competition from tech giants like Microsoft and Salesforce.
Zoom Video Communications saw its shares rise by nearly 2.2% after Microsoft announced it would unbundle its Teams app from the Office software suite, benefiting smaller tech companies like Zoom.
Shares of Netflix Inc. fell 0.65% on a rough trading session for the stock market.
Shares of Microsoft Corp. fell 2.50% as the stock market experienced a dismal trading session, ending its two-day winning streak.
Shares of Alphabet Inc. Cl A fell 0.51% as the stock market experienced a dismal trading session, although it outperformed some of its competitors.
Shares of Canopy Growth Corp. fell 11.54% after a rough trading session for the Canadian market.
Netflix stock experienced a loss of 1.98% in the recent trading session, falling behind the S&P 500's gain, and analysts are anticipating the company's upcoming earnings release with expectations of year-over-year growth.