HANGING UP

Zoom Stock Plummets as Vaccine News Raises Hope We Won’t Be Trapped on Videocalls Forever

According to CNBC, Zoom dropped more than 15 percent in premarket trading as Pfizer raised hopes for a coronavirus vaccine.

The news that Pfizer has developed what appears to be a viable coronavirus vaccine has been taken as good news pretty much everywhere—except, maybe, in Zoom’s presumably virtual boardroom. The development had an immediate effect on stock prices at companies that have thrived as people were forced to stay at home to flatten the curve of new infections. According to CNBC, Zoom shares were down more than 15 percent in premarket trading as hopes were raised that people won’t spend the rest of their lives on videocalls. Amazon shares dropped 3.4 percent, and Netflix fell by 5.4 percent. However, despite the hit, it’s fair to say 2020 has still been pretty good for Zoom—stocks have still shot up in value by 635 percent during the year so far.