After its Merger with Zoom is Terminated, Does Five9 Deserve a Place in Your Portfolio? By StockNews
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© Reuters. Is Five9 a worthy addition to your portfolio after its merger with Zoom has been terminated?Five9, a premier cloud-based intelligent contact center company (NASDAQ:), saw shares drop recently because of investor worry over Zoom’s $14.7 billion purchase deal and numerous investigations. The stock will likely remain volatile in this environment. Is it worth placing your bets? FIVN plunged 2.9% in the last five days after its shareholders rejected a nearly $15 billion sale to it. FIVN dropped 2.9% during the past five day because FIVN’s shareholders turned down an almost $15 billion sale. Zoom Video Communications , Inc. Its shares are down 4.1% this year.
In July, FIVN announced a multibillion-dollar acquisition. The U.S. Department of Justice investigated the matter because of concerns about foreign participation. FIVN’s stock is currently trading 26% below its 52-week high of $211.68. While FIVN would continue its partnership with ZM that was in place before the announcement and operate as a standalone company, the call center software firm’s stock is expected to remain volatile given the ongoing investigations related to its previously announced sale to ZM.
Here’s what could influence FIVN’s performance in the upcoming months:
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