Zoom Video Extends 2020 Rally, Doubling Amid Pandemic Boost

Eric Yuan, founder and CEO of Zoom Video, center, rings the bell during the company's IPO at the Nasdaq MarketSite in New York in 2019. — Eric Yuan, founder and CEO of Zoom Video, center, rings the bell during the company's IPO at the Nasdaq MarketSite in New York in 2019.
Photographer: Michael Nagle/Bloomberg

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By Ryan Vlastelica

March 23, 2020 at 3:24 PM UTC

This article is for subscribers only.

Zoom Video Communications Inc. shares jumped for a sixth straight session on Monday, as investors continued to bet that the teleconferencing company would be one of the rare winners from the coronavirus pandemic.

Shares spiked as much as 22%, trading almost twice its daily average volume, in their biggest one-day percentage gain since June 2019. The stock is up more than 40% over the six days, and it has more than doubled this year, with recent gains coming on signs of higher usage.