Zoom Confusion Strikes Again as Investors Hunt Coronavirus Plays
Eric Yuan, founder and CEO of Zoom Video Communications, center, during the company's initial public offering in New York in 2019.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Shares of Zoom Technologies Inc., a Beijing-based maker of mobile phone components with a market value of just $18 million, have more than doubled this week as investors bet on companies that could benefit if coronavirus fears push people to stay at home.
There’s just one problem -- its ticker is ZOOM, but investors may be thinking of California-based Zoom Video Communications, known for its online video-conferencing platform that could help people work and study from home. That company’s ticker is ZM, and its shares have risen about 11% this week amid widespread market turmoil.