Shares of Zoom fell 9per cent on Monday, adding to their sharp declines in the past few days, as the video conferencing app battles privacy ...
REUTERS: Shares of Zoom fell 9 per cent on Monday, adding to their sharp declines in the past few days, as the video conferencing app battles privacy concerns and increased competition from deep-pocketed rivals.
Brokerage Credit Suisse downgraded Zoom Video Communications Inc's stock to"underperform" from"neutral". Analysts, on average, rate the stock"hold," according to Refinitiv data. Last week, at least two US state attorneys had sought information from Zoom following multiple reports that questioned its privacy and security.Some school districts in the US have started to ban the app for online learning from home because of growing security concerns, while the New York City Department of Education said teachers should instead work through Microsoft Teams, Washington Post reported on Saturday.
While analysts believe that many issues, especially those originating from user error, are likely to get solved in the short term, others could remain for some time.
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