|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||10.40 - 10.40|
|52 Week Range||0.01 - 60.00|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Here's why this telemedicine company is an even better buy than the current leader in videoconferencing.
Zoom Technologies Inc. (NASDAQ: ZM) on Thursday admitted it had removed two activist accounts in the United States and one in Hong Kong upon a request from the Government of China.Chinese Government Requested Action "In May and early June, we were notified by the Chinese government about four large, public June 4th commemoration meetings on Zoom that were being publicized on social media, including meeting details," the video conferencing company said in a statement."The Chinese government informed us that this activity is illegal in China and demanded that Zoom terminate the meetings and host accounts."Zoom said it terminated three of the four meetings because they had some participants from mainland China, and the accounts of meeting hosts were suspended.The Beijing government significantly restricts and cracks down on public remembrance of the Tiananmen Square massacre victims. At least 2,600 pro-democracy student protesters in Hong Kong were killed at the hand of Chinese authorities in 1989, according to the Red Cross Society of China figures, although that number remains disputed.Three Hong Kong activists based in the U.S. and one in the semi-autonomous city had organized commemoration meetings at the anniversary date on June 4.Crackdown Due To Lack Of Technology, Zoom Says Zoom, which has seen record growth during the novel coronavirus (COVID-19) pandemic, said it lacks the technology to restrict meeting participation based on geographic location.The California-based company said it "does not currently have the ability to remove specific participants from a meeting or block participants from a certain country from joining a meeting."According to Zoom, it is working on developing technology "over the next several days" to let it block or remove meeting participants based on geography, and won't let Chinese government requests impact users outside of the country going forward.Zoom Price Action Zoom shares closed nearly 0.5% higher at $222.07 on Thursday. The shares added another 0.9% in the after-hours session, at $224.10.See more from Benzinga * Zoom Uses Oracle's Cloud Computing Services To Handle Demand Surge During Pandemic * Zoom Unveils Version 5 With Updated Security Measures Following Backlash(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
(Bloomberg) -- Investors could face more name confusion this week when ZoomInfo Technologies Inc. joins Zoom Video Communications Inc. on the Nasdaq Stock Market.ZoomInfo, which provides data on sales prospects, is expected to price its initial public offering on June 3 and begin trading under the ticker symbol ZI the following day. It will join three other publicly traded companies globally whose names begin with Zoom, the most well-known of which is the maker of video-conferencing software that has become a household name during the coronavirus pandemic.The surging popularity of Zoom Video, used daily by millions of people for remote face-to-face interactions, has fueled a three-fold rally in its stock this year. But for a brief time, it caused even bigger spikes in the shares of Zoom Technologies Inc, a Beijing-based company with few operations to speak of. That stock traded under the symbol ZOOM and had been moribund for years before Zoom Video’s IPO in April 2019 helped revive it.”The challenging part is we’re just running out of names that are distinctive,” said A.J. Ericksen, corporate partner at Baker Botts, in an interview. “So you’ll get some that sound alike and it gets even worse when you start with tickers -- which was a big problem with Zoom Technologies. The retail investors start typing in ‘Zoom’ and get that.”ZOOM’s daily volume soared from about 30,000 shares on April 10, 2019, to nearly 1 million shares eight days later, while the stock price rose about five-fold over three trading days. Things were quieter until the coronavirus started to spread rapidly across the U.S. this spring, sparking a surge in Zoom video chats and sending shares of its doppelganger up more than 10-fold.That volatility captured the attention of the Securities and Exchange Commission, which halted trading in Zoom Technologies for two weeks on March 25. The regulator cited concerns about ticker confusion and a lack of public disclosures since 2015. Ultimately Zoom Technologies changed its ticker symbol from ZOOM to ZTNO.“I think it’s just going to be left to ‘buyer beware,’” Ericksen said.Of course, ZoomInfo has little in common with Zoom Technologies aside from its name. The Vancouver, Washington-based company has about 202,000 paying users, $293 million in revenue last year and is backed by Carlyle Group, according to a filing.It’s unclear whether Zoom Corp., a Japanese seller of video and sound recording devices, has also benefited from name confusion. Its stock rallied to a four-month high in April but has since fallen about 14%.Meanwhile, Zoom Video shares continue to chug higher. The stock has gained 27% since Friday, when it was added to the MSCI World Index. On Tuesday, the company nearly doubled its annual revenue forecast after a blowout first quarter in which customers with more than 10 employees jumped 354% compared with the same period a year ago.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.