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: Zoom Video stock slips as new features announced at conference

Economy, Finance

Zoom Video Technologies Inc. ZM shares slipped Monday after the videoconferencing company announced a new suite of tools at its Zoomtopia 2021 conference. Zoom shares declined 3% to $292.22 in afternoon trading, and are down 24% over the past 12 months. One of the features announced was “Zoom Whiteboard,” a digital-canvas collaboration tool that allows users to interact with each other as if they were using an in-person whiteboard, with Zoom collaborating with Facebook Inc. FB to use Oculus Horizon Workrooms for a VR experience. Another announcement was “Zoom Video Engagement Center,” where customers can consult with experts in industry-specific trusted experiences like healthcare visits. Other new features include real-time translation and transcription of meetings, along with expanding “Zoom Rooms Smart Gallery” to include separate video feeds of in-office participants so they can be viewed equally by remote employees.

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