Zoom stock falls after service outage

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Shares of Zoom Video Communications Inc. are off 2.0% in Monday afternoon trading after a service outing that the company says has since been resolved. Shares were off as much as 5.4% earlier in Tuesday’s session. “We have resolved an issue that caused some users to be unable to start and join Zoom Meetings and Webinars or manage aspects of their account on the Zoom website,” a Zoom spokeswoman told MarketWatch. Chief Executive Eric Yuan apologized for the disruption on Twitter, writing that “we know the responsibility we have to keep your meetings, classrooms & important events running.” Monday marked the first day of school for many districts. Zoom shares are up more than 300% so far this year as the pandemic has driven greater need for video-conferencing tools in schools and workplaces. The S&P 500 is up about 6% on the year.
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