Why Zoom Video Communications Stock Hit the Skids Tuesday Morning
Shares of Zoom Video Communications (NASDAQ: ZM) slumped on Tuesday, falling as much as 8.3%. At 10:29 a.m. ET, the stock was still down 7.9%.
The catalyst that sent the teleconferencing stock lower was negative analyst commentary that painted a pretty bleak picture.
Citi analyst Tyler Radke downgraded Zoom Video Communications stock to sell from neutral (hold), while assigning a $91 price target, according to The Fly. This suggests that even though that stock has already fallen roughly 70% over the past year, it could still shed another 20% from Monday's closing price.
Source Fool.com