Zoom Video Communications (ZM) is one of the leading enterprise video communication companies in the world. Its cloud platform provides mobile and desktop video and audio conferencing, chat, and webinars. The company benefited from pandemic tailwinds, but it has been losing ground since the economy reopened. The stock has dropped around 71% in the last year and 52% year-to-date. Apart from the changing market dynamics, Zoom appears to be losing steam as a result of increased competition. Zoom, on the other hand, has been concentrating on the enterprise market. These businesses are responding to the desire of today's workforce for remote employment.
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