Why Zoom Video Stock Pulled Back

After a sizable run from $240 to $295, shares of Zoom Video (ZM) are coming under pressure this afternoon. All on news out an outage.

In fact, according to Barron’s, the company said, “at 8:51 a.m. Eastern time Monday that it had received reports of users being unable to visit its website, as well as being unable to start and join Zoom Meetings and Webinars. An hour later, it said it identified the issue. Then at 10:50 a.m., the company said it was deploying a fix across its cloud. By 11:26 a.m., it was still deploying a fix.”

However, it now appears the issues have been fixed as of this afternoon.

According to the company, “We have resolved the issue causing some users to be unable to start and join Zoom Meetings and Webinars or manage aspects of their account on the Zoom website.”

 

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