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SEC Pauses Zoom Technologies Trading Because People Think It’s Zoom Video

SEC Pauses Zoom Technologies Trading Because People Think It’s Zoom Video

The Securities and Exchange Commission suspended buying and selling of Zoom Technologies on Thursday, partly as a result of traders are complicated it with Zoom Video, which has seen a surge share worth as a consequence of COVID-19. It will resume buying and selling April 9. From a report: Zoom Video, which supplies videoconferencing providers and trades below the ticker image “ZM,” is a key element for a lot of companies shifting to distant work throughout the coronavirus pandemic. That’s led to the corporate, which went public final yr, to see a surge in customers and inventory worth rise of greater than 112% this yr to this point — a rarity within the present coronavirus-induced down market. It’s now obtained a market cap north of $40 billion. However, merchants have additionally bid up the a lot smaller Zoom Technologies, which has the ticker image “ZOOM.” Its inventory is up greater than 50% this month and almost 900% this yr. The firm has not disclosed monetary data since 2015, the SEC says.

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