Facebook unveiling of new video call feature sends Zoom shares lower - InvestingChannel

Facebook unveiling of new video call feature sends Zoom shares lower

Facebook (FB) announced new video-calling features including Messenger Rooms, which allows users to host video calls of up to 50 people for free. Messenger Rooms’ 50-person limit will not be immediately available, however. Facebook users will see a smaller limit at launch, but it will soon ramp up to 50 people, a spokesman for the company told CNBC. By comparison, Zoom Video (ZM) allows up to 100 people to video chat for free for up to 40 minutes, CNBC points out. Shares of Facebook are up $2.36 to $187.49 following the announcement. Zoom Video Communications gave up the day’s gains and the stock is now down 1% to $167.44 on the new competitive threat.