Zoom Video Communications (NYSE:ZM) is a $45B communications company that IPO’d in April 2019 for $65 per share and has been a darling of investors as part of the “Stay at Home ” trend where remote workers use a Video Conferencing Company like Zoom.
Shares in Zoom Conferencing (NYSE:ZM) rallied in February when the Coronavirus vaulted into the media cycle and once the Video Conferencer was recognized as a useful tool for the remote crowd, investors added to their defensive portfolio sending shares from $100 to $150.
Zoom Technologies (OTC:ZOOM) is a dormant Chinese Telephone Company that has not filed since 2015. But investors sitting at home with nothing to do went out and bought symbol (OTC:ZOOM) which was the wrong stock. Shares went from $3 to $25 for the impostor Zoom Technologies which is really a Chinese company with the symbol ZOOM. They were the beneficiary of having the symbol, but NOT the business. The company contributed no deception other than having the name Zoom.
The real Zoom symbol (ZM) had been public since April 2019, but when Zoom the conferencing company became a (Covid-19 Stock) investors did zero due diligence and started buying shares blindly in the wrong Zoom when the Coronavirus body count started to rise, and shares went from $3 to $60 per share in the wrong stock before the SEC stepped in and warned investors they were just being stupid.
The shares traded mostly in the mid 20’s, but had a spike to $60. Some idiot actually thought he was buying ZM at $60 when the real ZM was trading $125 on the NYSE?
Keep in mind – it took the SEC to step in – before the buying stopped?
Zoom Technologies, Inc. (OTC: ZOOM) does not have significant operations. Previously, it distributed wireless communication products in the United States. The company is headquartered in Beijing, China.
The real Zoom is ….
Zoom Video Communications (NYSE:ZM) is a $45B communications company that IPO’d in April 2019 for $65 per share, and has been a darling of investors as part of the “Stay at Home ” trend where remote workers use a Video Conferencing Company like Zoom.