Here's Why Zoom Stock Suddenly Soared Today
Shares of Zoom Video Communications (NASDAQ: ZM) were trading calmly until about 12:20 p.m. ET when they suddenly soared. The company announced that it was laying off workers and Zoom stock was up about 10% within 30 minutes. Zoom is following in the footsteps of many tech companies in recent months by laying off 15% of its workforce.