Why Zscaler Stock Plummeted More Than 50% in the First Half of 2022
Shares of Zscaler (NASDAQ: ZS) plunged 53.5% in the first six months of 2022, according to data provided by S&P Global Market Intelligence. That sell-off was much deeper than the first-half plunges of the S&P 500 and Nasdaq Composite, which tumbled 20.6% and 29.5%, respectively.
Here's a look at what caused the steep decline in the cybersecurity stock this year.
On the one hand, Zscaler has delivered strong financial results this year thus far. The cybersecurity company reported its fiscal 2022 second-quarter results in late February and its fiscal third-quarter numbers in late May. The company grew its revenue at a 63% year-over-year rate in both periods, hitting $286.8 million in sales in Q3.
Source Fool.com
