Why Zoom Video Communications, Zscaler, and Just Eat Takeaway.com Fell Hard Today
Shares of Zoom Video Communications (NASDAQ: ZM), Zscaler (NASDAQ: ZS), and Just Eat Takeaway.com (NASDAQ: GRUB) finished Tuesday down by 2.4%, 6.7%, and 8.1%, respectively. Zoom and Zscaler were actually down by much more earlier in the trading session before recovering.
This may be a situation where good news for the broader economy means bad news for these particular companies, all of which benefited greatly from the pandemic. But on Tuesday, it appeared that traders' recent concerns about the impact of the omicron coronavirus variant were diminishing, and long-term bond yields and oil prices rose, putting pressure on these "stay at home" growth stocks.
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Source Fool.com
