Did anyone buy this stock last month?

[Msmith]

24000%!!!

"The story of a tiny technology company whose stock has soared more than 50,000% over the past month would, at first glance, seem like an astounding story.

The only problem is that the outfit in question, Zoom Technologies Inc. (ZOOM hasn't released any revenue numbers in nearly a decade.

In fact, the Beijing-based developer of electronic components for mobile phones, which has all of 10 employees, has petitioned the SEC for permission to go private and end its tenure as public company.

But while it may not be a rags-to-riches story, the meteoric rise of Zoom Technologies' stock from .005 cents a share about a month ago to as high as $6 on Thursday may have an equally intriguing explanation -- a massive case of mistaken identity.

Apparently, some investors have mistaken Zoom Technologies with Zoom Video Communications (ZM , the fast-growing videoconferencing company that had a spectacular debut on Nasdaq on Thursday, with shares opening 81% above its initial offering price of $36. The confusion is perhaps more understandable given that the much smaller Zoom Technologies trades under the symbol ZOOM and has a very similar name. .."

Link:https://www.thestreet.com/investing/penny-stock-zoom-technologies-soars-mistaken-identity-14931968?puc=yahoo&cm_ven=YAHOO&yptr=yahoo

[Hydrae]

I use Zoom for work meetings. But that is the Zoom Video Communications side of things.

[TLO]

No, but Initiative Q is an attempt by ex-PayPal guys to create a new payment system instead of credit cards that were designed in the 1950s. The system uses its own currency, the Q, and to get people to start using the system once it's ready they are allocated.

[InvinciBill]

Did AJ Smith trade way Eli Manning being good for the Chiefs?

[Pasta Little Brioni]

Did AJ Smith trade way Eli Manning being good for the Chiefs?

ROFL

[scho63]

I used Zoom meeting this morning for a demo from HubSpot and my new company! LOL

[BWillie]

24000%!!!

"The story of a tiny technology company whose stock has soared more than 50,000% over the past month would, at first glance, seem like an astounding story.

The only problem is that the outfit in question, Zoom Technologies Inc. (ZOOM hasn't released any revenue numbers in nearly a decade.

In fact, the Beijing-based developer of electronic components for mobile phones, which has all of 10 employees, has petitioned the SEC for permission to go private and end its tenure as public company.

But while it may not be a rags-to-riches story, the meteoric rise of Zoom Technologies' stock from .005 cents a share about a month ago to as high as $6 on Thursday may have an equally intriguing explanation -- a massive case of mistaken identity.

Apparently, some investors have mistaken Zoom Technologies with Zoom Video Communications (ZM , the fast-growing videoconferencing company that had a spectacular debut on Nasdaq on Thursday, with shares opening 81% above its initial offering price of $36. The confusion is perhaps more understandable given that the much smaller Zoom Technologies trades under the symbol ZOOM and has a very similar name. .."

Link:https://www.thestreet.com/investing/penny-stock-zoom-technologies-soars-mistaken-identity-14931968?puc=yahoo&cm_ven=YAHOO&yptr=yahoo

Leonardo DiCaprio called me trying to get me to buy this shit, but I thought he was a conman. And it felt like he was flipping me off from over the phone.

[Simply Red]

I use Zoom for work meetings. But that is the Zoom Video Communications side of things.

same

[Simply Red]

and for phone sects

[TribalElder]

Zoom is horrifically overvalued
Sell asap

[Rain Man]

For some tiny OTC company, it's possible that only one person made the mistake and bought, driving the price up on himself. I wonder what the trading volume was.

And how is a company that is publicly traded not releasing revenue figures? I thought that was an SEC requirement. Is it the fact that it's a Chinese company? I'd still think they you couldn't get listed on an exchange in the USA without disclosing quarterly financials.

[ChiliConCarnage]

And how is a company that is publicly traded not releasing revenue figures? I thought that was an SEC requirement. Is it the fact that it's a Chinese company? I'd still think they you couldn't get listed on an exchange in the USA without disclosing quarterly financials.

You have to meet the requirements of listing on the exchange. OTC has several tiers. The top tier isn't what you generally think of as OTC. SEC compliant, volume reqs,# of shareholder reqs, no penny stocks, etc.

Then it works down. Pink sheet OTC has no requirements at all to my knowledge. Well, other than you pay the fee to list. There is also a grey sheets Im not familiar with

[Skyy God]

What the hell is this pump and dump pink sheet shit??

[JohnnyHammersticks]

ROFLROFL "A fool and his money are soon parted."

https://www.inc.com/minda-zetlin/zoom-ipo-zoom-technologies-zm-mistaken-identity-penny-stock-50000-percent-increase.html

ZOOM or ZM? Thousands Try to Invest in Zoom IPO but Buy the Wrong Stock
It's way too easy to confuse Zoom Technologies with Zoom Video Communications. Don't make that mistake.

Untold thousands of investors have bought stock in Zoom Technologies Inc., apparently mistaking it for Zoom Video Communications, which just launched a hugely successful IPO. It's a frighteningly easy mistake to make, and one you should watch out for if you decide to invest in the newly public videoconferencing startup. I nearly confused the two myself--be careful you don't.

Zoom Technologies' ticker symbol is ZOOM, and it's traded over-the-counter, while Zoom Video Communications uses the symbol ZM and is traded on the NASDAQ. Zoom Technologies, in case you're wondering, is a tiny developer of mobile phone components based in Beijing. It's a penny stock--at least until recently--having been delisted from the NASDAQ in 2014. About a month ago, before the apparent confusion, it was trading at .005 cents a share. In fact, the company has asked the SEC to be allowed to go private and stop being a public company altogether. Zoom Technologies has all of 10 employees.

Starting around the time Zoom Video Communications filed for its initial public offering in late March, Zoom Technologies' price began flying upward. It peaked at more than $5, and it's about $2.70 today, a rise of about 54,000 percent that can only be explained by a massive case of mistaken identity.

No wonder there's confusion. Google is usually helpful if you want to find things but, at least at this moment, if you enter "Zoom share price" into Google search, Zoom Technologies is what you get. I stumbled upon this when I did that search while planning to write about the (real) Zoom IPO--I wanted to see the most recent share price. Fortunately, I'd seen the headlines about Zoom Video Communications' spectacular rise from a planned IPO at $33 to $35 a share to its close at $62 a share. So I was confused, but pretty sure that a company trading at $2.70 was not the right Zoom.

Speaking of the right Zoom, its leaders are likely popping champagne corks right now. Before the IPO, the company's last private valuation was $1 billion. Zoom announced its IPO price at $28 to $32 per share, giving it a maximum valuation of $8.25 billion, which seemed pretty ambitious by comparison. Then it thought about things some more and upped that IPO range to $33 to $35 a share, for a maximum valuation just under $9 billion. But anyone who considered that too much got their comeuppance when the share price closed at $62 on its first day of trading, for a fully diluted valuation of more than $18 billion. Zoom founder Eric Yuan told the New York Times that the share price made him think, "Wow, I better go back tonight to get back to work."

Though less spectacular than Zoom Technologies' 54,000-percent increase, Zoom Video Communications' very impressive rise is equally easy to explain because it has something exceedingly rare among high-profile tech companies when they go public--a balance sheet in the black. Contrast this with Uber, another upcoming IPO. Its prospectus says that Uber may never become profitable which is a standard, and worrisome, disclaimer from tech companies going public these days. Zoom already is profitable, which really does make it as rare as the mythological unicorn.

As for Zoom Technologies, if you've made the perfectly understandable mistake of buying ZOOM instead of ZM, you might want to unload those shares quickly. Before all the other buyers realize their error, and the share price goes back down to where it's supposed to be.

[loochy]

Oh, it appears the OP recovered from his stroke.