Zoom (NASDAQ:ZM) stock is in the news Friday after the company fired its president “without cause.”
President Greg Tomb is no longer with the company after having only joined Zoom in June 2022. Tomb reported directly to founder and CEO Eric Yuan. No reason was given by the company as to why the former Google executive was fired. Adding to this, Zoom said it has no intention of seeking out a replacement for Tomb following his departure.
It could be that Tomb was fired following the company’s slower growth from its latest earnings report, although that’s just speculation. The company’s latest report just came out a few days ago.
How ZM Stock Investors Are Reacting
Investors in ZM stock aren’t taking today’s news well. The departure of one of the leading executives at the company has rattled apparently them, with shares starting out with a decent dip today. ZM stock has since recovered from its opening and is only slightly lower than yesterday’s close.
Investors will also want to keep in mind that the video conference company’s stock is seeing light trading today. As of this writing, around 1.3 million shares have changed hands. That’s a ways off from its daily average trading volume of about 3.8 million shares.
Traders keeping an eye on the stock market today will want to stick around for more of the latest news!
We’ve got all of the most recent stock happenings investors need to know about on Friday! That includes what has shares of Exela Technologies (NASDAQ:XELA) stock and Plug Power (NASDAQ:PLUG) stock moving, as well as a student loan forgiveness warning. There’s more details on these topics at the following links!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.