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March 26, 2020 04:05 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/QJ7FXIadQGE/sec-pauses-zoom-technologies-trading-because-people-think-its-zoom-video
SEC Pauses Zoom Technologies Trading Because People Think It's Zoom Video
The Securities and Exchange Commission suspended trading of Zoom Technologies on Thursday, partly because investors are confusing it with Zoom Video, which has seen a surge share price due to COVID-19. It will resume trading April 9. From a report: Zoom Video, which provides videoconferencing services and trades under the ticker symbol "ZM," is a key component for many businesses shifting to remote work during the coronavirus pandemic. That's led to the company, which went public last year, to see a surge in users and stock price rise of more than 112% this year so far -- a rarity in the current coronavirus-induced down market. It's now got a market cap north of $40 billion. However, traders have also bid up the much smaller Zoom Technologies, which has the ticker symbol "ZOOM." Its stock is up more than 50% this month and nearly 900% this year. The company has not disclosed financial information since 2015, the SEC says.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/QJ7FXIadQGE/sec-pauses-zoom-technologies-trading-because-people-think-its-zoom-video
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