|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|
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.
At its worst on March 23rd, Dow Jones and the S&P declined by around 37% and 34%. At the time, those kinds of numbers represented a loss of a 3-year gain since Trump’s election in November of 2016. Measured by VIX, market volatility spiked by 43% in March, reaching levels that are comparable to the […]
One of the themes echoed throughout my columns has been the importance of carefully estimating intrinsic value before investing. Nothing drives this point home more forcefully than the Zoom Video Communications Inc (NASDAQ:ZM) fiasco. Zoom Video Communications's Struggles ZM is the ticker symbol for Zoom Video Communications. This is the company that produces the interactive […]
In a note to clients this week, Credit Suisse analyst Brad Zelnick lowered his rating on Zoom shares from “neutral” to “underperform,” essentially marking the high-flying stock as one that clients should sell from their portfolios.
One of the few stocks that has benefited from the coronavirus pandemic is Zoom, although the stock is now under pressure due to privacy concerns. Zoom stock was up more than 100% this year because of its surge in popularity due to the worldwide quarantine and lockdowns. The shares climbed while most of the rest […]
Both Zoom Video Communications (NASDAQ:ZM) and Zoom Technologies (OTCMKTS:ZOOM) have made major moves on Wall Street in recent weeks. However, it appears some confusion has allowed ZOOM stock to ride on the coattails of ZM stock.Source: Michael Vi / Shutterstock.com On Thursday, the Securities and Exchange Commission suspended trading of Zoom Technologies stock until April 9. This comes after more and more people worldwide are having to work remotely due to the coronavirus from China outbreak. And in turn, employers are turning to video conferencing tools from Zoom Video in order to connect with their employees.Because of this, ZM stock has gained nearly 40% in the past two weeks and investors have taken notice. When going to buy shares, though, many people have apparently confused the two similar-sounding companies.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThis issue has caused a 108% rise in the ZOOM stock over the same two-week period, and nearly 900% year-to-date. This is the second time this has happened in nearly a month, and now the SEC is stepping in."The Commission temporarily suspended trading in the securities of ZOOM because of concerns about the adequacy and accuracy of publicly available information concerning ZOOM, including its financial condition and its operations, if any, in light of the absence of any public disclosure by the company since 2015; and concerns about investors confusing this issuer with a similarly named NASDAQ-listed issuer, providing communications services, which has seen a rise in share price during the ongoing COVID-19 pandemic," the SEC said. * 10 Undervalued Stocks Crashing on the Coronavirus Pandemic ZM stock was up 7.3% on Friday afternoon.Nick Clarkson is a Web Editor at InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * America's Richest ZIP Code Holds Wealth Gap Secret * 10 Stocks to Buy That Will Benefit From Coronavirus Mayhem * 5 Bank Stocks to Buy Now Because This Isn't 2008 Again * 12 Stocks to Buy That Are Already Positive The post Zoom Stock or ZM Stock? Confusion Continues for Potential Zoom Video Investors appeared first on InvestorPlace.
It’s been a great month to be Zoom. Yes, Zoom Video Communications has thrived in the age of coronavirus-induced quarantine as it and other remote conferencing services have suddenly become indispensable to the modern economy. Due almost entirely to investor confusion, Zoom Technologies—which trades as an over-the-counter stock with the ticker symbol ZOOM—has also soared, with its share price zooming (sorry) from $1.10 to an intraday high of $60 last week, before closing at $20.90.
Zoom Technologies shares were suspended through April 8th, after the stock was confused with Zoom Video. Yahoo Finance’s Julie Hyman breaks down the news.
Daniel Newman from Futurum Research joins Yahoo Finance’s Alexis Christoforous and Brian Sozzi to discuss how the technological industry is handling the coronavirus outbreak.
The shares of Zoom Technologies Inc. (OTC: ZOOM) surged more than 20% on Monday as investors likely confused it with the remote conferencing platform developer Zoom Video Communications Inc. (NASDAQ: ZM).What Happened Zoom Technologies is a China-based company that primarily engages in technology and communications businesses, per the description on Reuters website. The company's shares trade over the counter with ticker "ZOOM," after it voluntarily delisted from the Nasdaq stock exchange in 2014 for failing to meet the exchange desk's requirements. Zoom Technologies has an underwhelming market capitalization of $22.59 million, even after the surge. As a large number of technology companies, including Facebook Inc. (NASDAQ: FB) and Amazon.com Inc. (NASDAQ: AMZN), shut down some of their offices and ask employees to work from home due to the spread of the novel coronavirus (COVID-19), the demand for companies enabling remote work also increased. One such company, Zoom Video Communications, provides users with the ability to hold remote conferences. Its shares trade at Nasdaq with the ticker "ZM."Why It Matters This isn't the first time that investors have confused between the two companies.> Oh my god. I can't believe it. It's happening again. People are buying the wrong Zoom stock: pic.twitter.com/qEnCRh1SZy> > -- Daniel Gross (@danielgross) March 9, 2020Zoom Technologies stock surged nearly 100% in April 2019 when Zoom Video Communications began trading publicly, as reported by Business Insider at the time.Price Action Zoom Video Communications shares closed 0.5% lower at $113.75 on Monday and traded 2% higher in the after-hours session at $116. Zoom Technologies stock closed 20.16% higher at $7.51 per share.See more from Benzinga * Citron Showed 'Lack Of Understanding' Of Science Behind DNA Medicines, Inovio Says * Amazon To Sell Technology Behind Grab-And-Go Stores To Other Retailers * Australia Sues Facebook For Data Breach Of 300K Citizens In Cambridge Analytica Case(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
I happened to read an article from August that discussed the fact that Zoom Video's (NASDAQ:ZOOM) stock fell because Facebook's (NASDAQ:FB) Workplace business communications platform had introduced video tools.Source: fyv6561 / Shutterstock.com InvestorPlace - Stock Market News, Stock Advice & Trading TipsFacebook is a giant company, so I'm not sure how many owners of FB stock actually noticed. However, the news made me think about the efforts to break up Big Tech and what that might mean for FB stock. I actually wrote about this very subject in March, suggesting that Elizabeth Warren is right to want to break up the big tech stocks. "Innovation only thrives when small businesses can grow into big companies. Warren believes this isn't happening as a result of big tech stocks," I stated. I finished by suggesting that investors should embrace the idea of a tech breakup. After all, Standard Oil was broken up in 1911 and it spawned three very large oil companies that still exist today, I pointed out. Workplace Has 3 Million UsersAt Workplace's annual conference on Oct, 8, FB announced that Workplace had reached 3 million paying users. The website hit that figure in just three years. Even more remarkable, 1 million of those users were acquired since February, meaning that Workplace has an annualized growth rate of 67%. Workplace charges $4 or $8 per worker per month. If 50% of the users generate $8 per month and 50% generate $4, Workplace's annual revenue would be over $200 million. Now, for a business with revenue of $62.6 billion over the past 12 months, $200 million+ is more like a rounding error than a real business. Separate From FacebookHowever, Slack (NYSE:WORK) recently went over 100,000 paying customers and had $145 million of revenue in Q2. So it's not such a crazy idea to think that Workplace could survive on its own. The beauty of Workplace is that it's completely separate from Facebook. The parent company doesn't have access to its corporate data."The uniqueness of Workplace is that we built the business by starting first with big companies," Julien Codorniou, vice president of Workplace said in March. "As Workplace continues to grow, the next priority is to increase adoption among smaller and mid-sized businesses, too."As Facebook continues to add third-party apps to Workplace ( it added 50 in 2018 including Microsoft's (NASDAQ:MSFT) Sharepoint), the website will continue to attract businesses of all sizes.More importantly, Workplace focuses on frontline employees while Slack and Microsoft Teams are primarily targeting white-collar knowledge workers. As Workplace looks to attract more small- and medium-sized businesses, service-oriented companies with large labor pools should be drawn to Workplace. The Bottom Line on FB StockAs another InvestorPlace columnist, Tezcan Gecgil, recently highlighted, FB stock has gone sideways over the past 20 months as its reputation has taken a hit over privacy concerns. As various stakeholders call for the breakup of big tech, I know which part of Facebook I'd send out the door first.Spinning off Workplace would be a natural move for FB. The only problem is that the IPO market is in the gutter at the moment. Maybe sometime in 2020? At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Super Boring Stocks to Buy With Super Safe Returns * 10 Winning Stocks to Buy and Stick With for the Long Haul * Don't Give Up on These 4 Cannabis Stocks The post Would Facebook Stock Benefit From a Workplace Spinoff? appeared first on InvestorPlace.
It's been a big year for technology initial public offerings. Among the winners from the tech IPO boom are two U.S. technology companies with fast-growing venture capital portfolios.