Zoom Technologies, a Beijing-based maker of mobile phone components whose shares traded for less than 1 cent each just two months ago, has soared more than 70,000 per cent since March 12. The catalyst? Who knows, but confusion spurred by the trading debut of a much bigger company, Zoom Video Communications, is one very plausible explanation.Bloomberg
Trading in Zoom Technologies picked up in mid-March, right about the time Zoom Video, a software company that reportedly drew interest from Microsoft Corp., filed its registration for a public offering. The interest and confusion pushed the over-the-counter stock as high as $US5.76 per share, or to a market value of about $US17 million . Average trading volume in the past month has surged to nearly 75,000 shares, or 24 times the average of 3,000 shares that were traded in 2018.
Compare that to Thursday's debut of Zoom Video, whose market cap surpassed $US16 billion, with more than 13 million shares traded in the first 30 minutes after it opened. The stock gained as much as 83 per cent over the $US36 IPO price set Wednesday. The mix up was enough to concern regulators. The OTC Markets Group Thursday designated Zoom Technologies as "caveat emptor", and cautioned traders to be aware of the potential confusion between the "unrelated entities", the exchange wrote in a statement. Zoom Technologies trades under the symbol 'ZOOM,' while Zoom Video trades as 'ZM.'
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The mystery of the missing 99 per cent of ocean plastic wasteIt is estimated that only one per cent of plastic waste that enters the ocean is trapped in garbage patches. Where is the rest?
Source: abcnews - 🏆 5. / 83 Read more »
Unemployment 'rises to five per cent' | Sky News AustraliaNational unemployment figures are due to be released on Thursday, with the rate expected to have risen to five per cent for March. \n\nEconomists forecast the unemployment rate has risen 0.1 per cent from 4.9 per cent in February. \n\nThe RBA says a lift in the unemployment rate, combined with stagnant inflation, could warrant an interest rate cut later in the year. \n\n\n\n Fresh batch of bullshit to be released on Thursday ....
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Unemployment rate edges up to five per cent | Sky News AustraliaThe official unemployment rate has edged up 0.1 per cent to five per cent for March. \n\nYour Money reporter Leanne Jones has told Sky News the figure is in line with industry predictions. \n\nShe says the uptick in unemployment is explained by the increased participation rate in the workforce, which has gone up by 65.7 per cent. \n\n\n\n\n\n More Jobs = More unemployment ...... Funny that is why it went down to 4.9 because there was a dip in the participation rate . Never mentioned that last month . Why?
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Strongman champions squeeze into tiny plane seats'Would you swap seats with one of us?' 9News andy_lee hamishandandy hamishblake Andy maybe for a business class fare you could get one of these guys to toss you in the air
Source: 9NewsAUS - 🏆 10. / 72 Read more »
Louisa Akavi's identity has been a closely guarded secret — until nowLouisa Akavi was abducted by Islamic State in Syria more than five years ago. Now, with the fall of the caliphate, authorities hope they can bring the New Zealand nurse home.
Source: abcnews - 🏆 5. / 83 Read more »
Police warn they might mistake 'gel blasters' for real weaponsSA police warn that anyone brandishing a new kind of toy gun will initially be treated as though they are holding a real firearm by officers called to the scene. Anyone want to score some tic-tac's or sherbet? Well police with a reasonable belief that their lives or the lives of others are in strife would probably have to use lethal force and Blast the offender would they not? Do not bring your toy guns into the public arena as the jury would hopefully see the coppers view if charged? Toys like this should not be sold.
Source: abcnews - 🏆 5. / 83 Read more »
Couple killed by tragic driving mistakeMilly and Toby Savill were on holiday in Santorini when they tried to turn around their off-road buggy and made a horror miscalculation.
Source: newscomauHQ - 🏆 9. / 77 Read more »
The big mistake Australian voters can’t get overShock results of a huge poll of voters has revealed there’s something they just can’t get over — and it could be a problem for ScottMorrisonMP. ScottMorrisonMP but i thought you said they were ahead 😂😂😂😂😂😂 political_alert ScottMorrisonMP This is just a rehash of annabelcrabb's report earlier today. ScottMorrisonMP A Liberal party which is a seething morass of backstabbing, undermining and hatreds is not perceived well by the humble voters. Gosh!
Source: newscomauHQ - 🏆 9. / 77 Read more »
Deadly button batteries are sending 20 Australian children to hospital every weekThe Australian Competition and Consumer Commission believes more safety measures need to be in place to stop children ingesting the batteries and dying. Yeah if every room has a watch in it...
Source: 9NewsAUS - 🏆 10. / 72 Read more »
'Suck it up': Teens too young for accommodation claim they were sent back to abusive homesHomeless children in Canberra claim they have been told to suck it up and go home by child protection services, or turned away from crisis accommodation because they are too young to be granted assistance. Could it be that the issue is with the teens, not the parents? And THEY are too much for a crises centre to handle, as well as the parents? Many assupmtions are made in these stories.
Source: abcnews - 🏆 5. / 83 Read more »
Trump revives plan to send illegal migrants to 'sanctuary cities' | Sky News AustraliaUS President Donald Trump has doubled down on plans to funnel detained illegal migrants into 'sanctuary cities' that oppose his tough immigration policies.\n\nMr Trump tweeted that because Democrats are unwilling to negotiate changes, his administration is considering 'placing' illegal immigrants into the self-declared cities.\n\nThe President's comments come following a Washington Post report, which revealed the White House has been considering a plan for transporting immigrants in detention and releasing them into sanctuary cities that are Democratic strongholds.\n\n\n\n\n\n Anti-leadership. To state that this man is dangerous is patently axiomatic So irresponsible.
Source: SkyNewsAust - 🏆 7. / 78 Read more »