Zoom Video Shares Fall After Announcement Of Potential Vaccine

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The Zoom videoconferencing platform, which had seen its audience explode with restrictions linked to the Covid-19 pandemic, fell nearly 16% on Monday at the opening of the New York Stock Exchange, while the Pfizer laboratory announced a vaccine.

The American Pfizer and the German BioNTech announced Monday morning that the vaccine they developed against Covid-19 was “90% effective”, after the first interim analysis of their “phase 3” trial, the last before an application for approval.

Zoom Video, which makes it possible to meet online, was one of the big winners of the restriction measures and had been used by millions of people for business meetings, for school or even for remote drinks.

The share price has risen more than 7-fold since the start of the year, and the group’s market valuation, which was $ 13.4 billion on January 2, is now over $ 100 billion. But the announcement of an imminent vaccine gives hope for a return of employees in the offices, a resumption of physical meetings and lessons in a classroom and no longer behind a screen. As a result, the use of the Zoom platform could decline.








Source: Naija News





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