Shares closed at $105.13 on Wednesday, underperforming a strong broader market as the Nasdaq rose 2.02% and the Dow gained 1.24%.
The decline left Zoom 3.99% below its 52-week high of $109.50, reached a day earlier on May 5.
Trading volume reached 6.2 million shares, above the 50-day average of 4.6 million, indicating heavier-than-usual investor activity during the pullback.
With executives selling millions in stock at its peak, is Zoom's ambitious AI transformation facing internal doubts?
Can Zoom's AI platform overcome Microsoft's dominance, or did its winning streak just hit a major reality check?