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 ZM stock 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 2019via 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 down 0.89% on Monday and is down 41.31% since the start of the year.