ZM - Zoom's Nasdaq Exit: What's Next for the Former Pandemic Darling Stock? | Benzinga
Zoom Video Communications Inc (NASDAQ: ZM) will cease to be a component of the Nasdaq 100 index as its stock performance lags behind significant equity benchmarks in 2023, with only a 5.7% rise.
The company, once a pandemic favorite, saw its shares surge nearly 400% in 2020 as it benefited from lockdowns.
However, its growth significantly slowed with the return to office work and increased competition from Microsoft Corp's (NASDAQ: MSFT) Teams, resulting in single-digit sales expansion for over a year, a stark contrast to its triple-digit growth during the pandemic, Bloomberg reports.
Other pandemic-era high performers like Peloton Interactive Inc (NASDAQ: PTON) and Teladoc ...