Five9's decline leads losses across cloud call center stocks
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Companies in the cloud-based call center technology market took it on the chin, Monday, due to a slate of issues that were both broad-based and specific to the sector.
Declines came from RingCentral (NYSE:RNG), which fell by almost 9%; Twilio (NYSE:TWLO), down by more than 7% and Nice (NICE), which fell a relatively mild 3.6%, compared to its rivals.

The biggest decliner, however, was Five9 (NASDAQ:FIVN), which dropped by more than 22% after the cloud-software developer said Chief Executive Rowan Trollope would resign in order to head up an unnamed pre-IPO company.
Zoom Communications (NASDAQ:ZM), which fell short in an effort to acquire Five9 (FIVN) last year, saw its shares fall by more than 5% on Monday.
The tech sector on the whole was mired in the red, with semiconductor stocks among the biggest decliners. Several chip leaders retreated following the implementation of new U.S. rules aimed at restricting the sale of certain chip technologies to China. Those rules are designed to keep some types of semiconductors from getting into the hands of the Chinese military.