Zoom loses $100 billion of its market value

US video conferencing platform Zoom has lost around $100 billion of its market value since its October 2020 peak, a decline of 64 per cent for the stock, Bloomberg reported.

The video communications company fell 15 per cent on Tuesday to close at the lowest level since June 2020.

Despite the decline, the stock was still up by nearly 500 per cent since it began trading in 2019.

Some analysts expect Zoom to bounce back, pointing to an opportunity for growth in enterprise communications and falling valuations.

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