That’s in spite of the fact that Zoom Technologies, according to the SEC, has not made “any public disclosure” whatsoever-including reporting on its finances or “its operations, if any”-since 2015. At its high at the end of last week, the “ZOOM” stock had increased nearly sevenfold-from around $3 a share to more than $20-in the span of a month. Meanwhile, Zoom Technologies, a so-called penny stock traded over the counter, had risen more than 240% over the same time frame before the SEC suspended it.
Zoom Video’s stock has surged 50% since the broader market’s peak last month, a period in which the S&P 500 has fallen more than 20%. That other issuer is Zoom Video Communications (ticker symbol: ZM), whose stock price has, well, zoomed in recent days as droves of workers, confined to their homes to reduce the spread of COVID-19, have turned to its remote meeting services. Securities and Exchange Commission on Thursday halted trading in the shares of Zoom Technologies (ticker symbol: ZOOM), citing “concerns about investors confusing this issuer with a similarly named Nasdaq-listed issuer” during the coronavirus pandemic. “Another driver of this week’s risk-off frenzy has been the realisation that the Fed stimulus the market has become so accustomed to in recent months will eventually reach an end,” said economists at ETM Analytics.īonds inched lower, with the yield on the benchmark 2030 government issue up slightly to 9.525%.The U.S. It has weakened more than 6% as fears of a second wave of COVID-19 infections in Europe rattled investor sentiment. South Africa’s rand also slipped way past the sentimental 17 rand per dollar mark on Friday, paring gains seen in early trade as rising coronavirus cases in Europe dampened hopes of faster economic recovery and moved investors away from riskier currencies.Īt 1448 GMT the rand was 1.28% down at 17.1575 per dollar, following a close of 16.9400 overnight in New York in low volume trade with local markets closed for a national holiday.Īfter rallying to a six-month high of 16.0950 last Friday, the rand and other risk assets have reversed course.
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