RingCentral News: RNG Stock Pops 3% on Launch of Zoom Video Competitor

RingCentral (NYSE:RNG) news for Thursday concerning new video chat application has RNG stock up on Thursday.

RingCentral News: RNG Stock Pops 3% on Launch of Zoom Video Competitor
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A RingCentral news release reveals the new video calling app. The new service is called RingCentral Video and comes packaged along with the RingCentral Office package. Its introduction comes at the perfect time as more people work from home due to the coronavirus from China.

With the introduction of RingCentral Video, the company is set to challenge Zoom Video (NASDAQ:ZM). As the name implies Zoom Video also offers video chat services that are helpful to those working from home during the coronavirus pandemic.

The introduction of RingCentral Video has it being available to RingCentral Office users in the U.S. Starting today. The company also plans to introduce the service to RingOffice users in Europe, the Middle East and Africa later in Q2. The rest of the world should gain access to the service starting in Q3.

Vlad Shmunis, Founder, Chairman and CEO of RingCentral, said this about the new video launch affecting RNG stock.

“The world is experiencing the largest work from home demand ever. At RingCentral, we’ve always been focused on addressing the needs of modern, mobile, and distributed workforces by delivering trusted, reliable, global, and easy to buy, manage, and use solutions. Today, we’re taking the next step in delivering a world-class seamlessly integrated MVP experience to further enhance employee productivity as they work from anywhere.”

RNG stock was up 3.2% and ZM stock was down 10.45% as of Thursday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/04/ringcentral-news-boosts-rng-stock/.

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