Zoom Video Communications (NASDAQ:ZM) stock is on the move Monday as investors expect it to continue performing well following the pandemic.
During a recent interview, Ricky Kapur, head of Asia Pacific at Zoom, said the company is seeing growth even as the Covid-19 pandemic starts to slow. That’s thanks to companies embracing hybrid work environments, changing how they engage with customers, as well as digitally-aligned companies creating new platforms to create customers.
The increasing interest in the company despite the waning pandemic has ZM stock seeing extra activity today. As a result, some 5 million shares are on the move. That’s already above its daily average trading volume of roughly 4.4 million shares.
Keeping that in mind, here’s what potential traders of ZMs tock need to know about the company.
- Zoom is a communications company that focuses on offering video chats between users.
- The company sees much use from businesses hosting meetings, and also saw a boost in use from schools during lockdowns.
- It was founded in 2011 and operates out of its headquarters in San Jose, Calif.
- Zoom joined the Nasdaq Exchange in April 2019 via an initial public offering (IPO).
- That saw it raise $356.8 million as it priced shares at $36 for its public debut.
- The company’s seen major growth since then with its shares currently trading near the $200 mark.
- Zoom’s market capitalization is sitting at $59.882 billion.
ZM stock is up 1.5% as of Monday afternoon but is down 44.1% since the start of the year.
Investors looking for more stock market news today will want to keep reading!
InvestorPlace has all the latest stock coverage that traders need to know about for Monday. A few examples of that include the deal sending Bluerock Residential Growth REIT (NYSEAMERICAN:BRG) stock higher, what has vaccine stocks on the rise, as well as Rocket Companies (NYSE:RKT) announcing an acquisition. You can find all of that at the following links!
More Stock Market News for Monday
- BRG Stock: Blackstone Sends Bluerock REIT Soaring With Its Bet on Rental Housing
- MRNA, NVAX, OCGN, PFE, BNTX: What Is Going on With Vaccine Stocks Today?
- RKT Stock: 15 Things to Know as Rocket Moves Beyond Mortgages With Truebill Deal
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
