Penny stock Zoom surges after unicorn Zoom's IPO

Zoom Technologies

18/04/2019 17:39

** Shares of penny stock Zoom Technologies  ZOOM.PK  surging 42%
on Thurs in apparent investor confusion after Zoom Video
Communications  ZM.O  starts trading following its IPO
    ** Silicon Valley startup Zoom Video Communications surged
76% to $63 after its highly publicized IPO
    ** Much smaller Zoom Technologies traded at about 1 cent/shr
for the past yr before surging in the lead-up to Zoom Video
Communications' highly-publicized IPO
    ** Over-the-counter shares of Zoom Technologies have swung
between $1 and over $5 per share over the past week and were
last at $3. Earlier in the session the stock traded as high as
$5.50 
    ** At current price of $3.25, Zoom Technologies has a market
cap of ~9 mln, vs Zoom Video Communications approaching $17 bln
    ** Zoom Technologies is described as a holding co with
subsidiaries in China tech and communications businesses. Zoom
Video Communications sells video conferencing services

 ((noel.randewich@tr.com; Twitter handle: @randewich  (415) 677
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