Zoom stock falls amid service outage

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Shares of Zoom Video Communications Inc. are off 2.7% in Monday trading after the company confirmed an outage that was preventing users from being able to join and start meetings on the video-conferencing service. “We have identified the issue causing users to be unable to start and join Zoom Meetings and Webinars and are working on a fix for this issue,” a company spokeswoman told MarketWatch. Zoom’s Twitter account stated that the company was “deploying a fix now” that should have restored service for some users already. “[W]e’re continuing to complete the fix for any users still impacted,” the company continued in its tweet. 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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