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RingCentral added to ‘zombie’ stocks list by equity research firm New Constructs

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Cloud-based communication company RingCentral is a 'cash incinerator' at risk of declining to $0 per share, according to equity research firm New Constructs. RingCentral’s stock has fallen 80.9% in 2022, outpacing the S&P 500 index’s decline of 24.3%.

Cloud-based communication company RingCentral has been added to the list of “zombie” stocks compiled by equity research firm New Constructs.

RingCentral’s stock has fallen 80.9% in 2022, outpacing the S&P 500 index’s SPX, -0.75% decline of 24.3%.Since 2017, RingCentral has burned through $2.5 billion in Free Cash Flow excluding acquisitions, according to New Constructs. In its most recent 10-K filing, RingCentral acknowledged that some of the company’s carriers and strategic partners, such as AT&T Inc. T, -0.27%, TELUS Corp. TU, -1.45%, Verizon Communications Inc. VZ, -0.62%, and Avaya Holdings Corp. AVYA, -9.02%, sell or are expected to sell its solutions, but are also competitors for business communications.Other competitors include Microsoft Corp. MSFT, -2.13%, Cisco Systems Inc. CSCO, -0.94% and Zoom Video Communications Inc. ZM, -3.75%.

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$goev has to be on there soon

At 30%+ yoy growth for the last 5 years? Are we talking about $RNG here

My firm used to use them, they were atrocious. Good riddance.

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