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Zoom shares dip amid coronavirus, security concerns, competition

Added 04-06-20 02:04:02pm EST - “Video conference company Zoom is facing stock-related challenges due to the coronavirus, security concerns and rising competition.” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “Zoom shares dip amid coronavirus, security concerns, competition”. Below is an excerpt from the article.

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Shares of Zoom fell 8 percent  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.

The stock had surged to a record high in March as demand for the app skyrocketed with millions of people around the world using it for everything from school lessons to business meetings amid lockdowns imposed to slow the spread of the coronavirus.

But multiple reports last week that questioned the company’s data privacy practices have spooked investors, which led to the loss of a third of the company’s market value from its record high.

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