Why Zoom Video Communications Shares Rose 41% Last Month
Shares of Zoom Video Communications (NASDAQ: ZM) gained 41.3% in June 2020, according to data from S&P Global Market Intelligence. The video conference specialist sprinted out of the gate with an important technology upgrade and a strong earnings report.
Zoom introduced end-to-end encryption of video calls for paying customers on June 1. Share prices rushed 14% higher that day as investors and users embraced the long-awaited security improvement.
That evening's first-quarter report crushed analyst expectations across the board and drove a 9.7% price increase over the next two days.
Source Fool.com