Shares for another company called Zoom are flying, but some might be trading the wrong stock

div > div.group > p:first-child"> Zoom Technologies is not the company Zoom Video Communications that is expected to begin publicly trading on the Nasdaq on Thursday.

Rather, Zoom Technologies is a tiny Chinese wireless communications company that"does not have significant operations," according to its profile on Yahoo. But within two hours of trading, shares of ZOOM surged more than 80%, with trading volume that was quadruple the amount of shares that change hands on the average day.

Zoom Technologies also has a market value of just $14 million and began 2019 trading at $0.01 a share. Hitting a high of $5.50 a share in midday trading, the stock is up more than 47,000% so far this year. Shares of ZM had yet to begin trading. But Zoom Video Communications stock is in high demand, as Nasdaq indicated the stock is set to IPO at about $62 a share – nearly double the $36 a share the company priced at on Wednesday.

People are dumb 😂😂

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Video conferencing company Zoom prices IPO at $36 per share, giving it a $9.2 billion valuation — 9 times its last private valuationZoom Video Technologies is expected to start trading on Nasdaq on Thursday. Based on my zoom conference call yesterday I would short it.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Grounded Jet Airways' shares sink, rivals rush to grab market shareJet Airways shares plunged on Thursday, battered by worries about whether the gr... I agreed with that but I love to see that with this tach This place we share the future and this meeting golden name means
Source: Reuters - 🏆 2. / 97 Read more »

Stocks erase week's gains after weak manufacturing surveysGlobal shares erased this week's gains on Thursday after weak manufacturing... Daddy!
Source: Reuters - 🏆 2. / 97 Read more »

IPO market faces biggest week of 2019 so far with Pinterest, Zoom and Greenlane on tapThe initial public market is bracing for its biggest week of the year so far with eight deals on tap expected to raise $2.5 billion in proceeds.
Source: MarketWatch - 🏆 3. / 97 Read more »