Why Zoom Video Stock Plummeted 29% in December

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Shares of Zoom Video Communications (NASDAQ: ZM) fell 29.5% last month, according to data provided by S&P Global Market Intelligence, as investors responded to the company’s third-quarter results and processed news about COVID-19 vaccines.

Zoom has been a tech stock darling over the past year, with its share price skyrocketing 396% in 2020. At the beginning of December, the company released its third-quarter results, which boasted a sales increase of 367% year over year and a net addition of 63,500 new business customers. 

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