To call it a case of mistaken identity might be underselling it, but shares of Zoom Technologies have been practically, er, zooming higher amid the recent buoyancy in the popular videoconferencing company Zoom Video Communications which went public back last year to much fanfare.
Read: Coronavirus update: 82,549 cases, 2,810 deaths, 1 possible case of spread in the U.S., Trump administration response under scrutiny So, how has Zoom Tech fared? The company is up nearly 48% on Thursday and is on pace for a weekly gain of 123%. It’s return so far this year would be a stunning 495%.Perhaps, adding to the confusion, Zoom Technologies’ profile information on data provider FactSet, which describes the entity as a holding company that plans to invest in mobile and telecommunications businesses, links to Zoom Video’s web site.Attempts to reach representatives for Zoom Technologies haven’t been successful.
The OTC spokeswoman said that the exchange doesn’t keep information on companies that trade in its “caveat emptor” tier, including market values, trading volume and even general contact information.
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