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Zoom loses $15 billion in market value as it forecasts slow growth
short by Hiral Goyal / on Tuesday, 31 August, 2021
The shares of videoconferencing platform Zoom fell over 15% on Tuesday, wiping out more than $15 billion from its market value, as per Forbes. The development came after Zoom forecast that its revenue will roughly flatline for the rest of the year. Notably, Zoom reported its quarterly earnings on Monday with revenue topping $1 billion for the first time ever.
read more at Reuters