Here's Why Zoom's Profit Fell by 50% in Q1
Zoom Video Communications (NASDAQ: ZM) is one of Cathie Wood's favorite stocks. It is the ARK Innovation ETF's top holding right now, at around 9.5%.
Zoom skyrocketed in popularity during the early stages of the pandemic as more people worked remotely from home. And while businesses had videoconferencing capabilities before 2020, Zoom definitely made doing virtual meetings easier.
Now that people are returning to work in the office, the company's growth has been slowing down. And investors even saw Zoom's profits get cut in half in its most recent quarterly results. Is the business in trouble, or is this still a good growth stock to hang on to?
Source Fool.com
