Zoom shares have plummeted since the coronavirus pandemic peaked in October 2020. The company's stock is down 90% from its all-time high. The pandemic brought a huge influx of new users who were forced to learn and work from their homes. Zoom became the go-to platform for video conferencing and online meetings. But now that the pandemic is winding down, Zoom is no longer the only option, and its user base is starting to shrink.
In its most recent earnings report, Zoom reported that its revenue had declined for the first time since going public. The company is also facing increased competition from the likes of Microsoft and Google.
Zoom's shares are down 90% from their peak, but the company is still worth more than when it went public. Zoom will continue to be a major player in the video conferencing space, but it will likely never again see the explosive growth it experienced during the pandemic. Also, it has a large and loyal user base, and it is well-positioned to benefit from the growing trend of remote work.
What do you think about Zoom's prospects? Do you use the platform now, or did you use it during the pandemic? Let us know in the comments below.