Zoom stock tanks on news of $14.7 billion Five9 deal

Zoom’s stock tanked Monday morning after the video conferencing company revealed plans to buy call center software company Five9 for $14.7 billion.

An hour after markets opened, Zoom shares were trading down 3.9 percent at $348.00, according to MarketWatch data, while the tech-heavy Nasdaq composite index was down just 1.5 percent.  Meanwhile, shares of Five9 — which sells software used by call center workers for companies like Under Armour and Lululemon — were up about 4.3 percent at $185.17.