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28 Dec 2023

Nasdaq Drops Zoom, Signaling Shift from Pandemic Stocks

Zoom Video Communications [has been removed](https://www.bloomberg.com/news/articles/2023-12-18/nasdaq-drops-zoom-in-sign-pandemic-era-darling-trade-is-over?embedded-checkout=true) from the Nasdaq 100 index after significantly underperforming equity benchmarks in 2023. The company's stock surged during the height of the pandemic in 2020 due to the demand for remote communication but then plummeted with the return to office work and increased competition from platforms like Microsoft Teams. Similar growth setbacks have been observed in other companies like Peloton.