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Zoom Video Stock Slips 7%

Shares of Zoom Video Communications, Inc. (ZM) are slipping over 7% on Wednesday morning. The other day, several tech companies including Apple (AAPL)and Zoom were fined for allegedly refusing to store the data of Russian citizens on Russian territory.

ZM is currently trading at $100.40, down $7.59 or 7.03%, on the Nasdaq. The stock opened its trading at $103.64 after closing previous day's trading at $107.99. The stock has dropped about 45% in the year-to-date period.

According to reports, the court in Moscow's Tagansky district fined Apple 2 million roubles, Zoom and Ookla were fined 1 million roubles each. Alphabet's Google was ordered to pay 60,000 roubles for a different offense relating to data.

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