Why Zoom Video Communications Stock Jumped Today
Shares of Zoom Video Communications (NASDAQ: ZM) have jumped today, up by 11% as of 12:15 p.m. EST, after rival enterprise collaboration platform Microsoft Teams suffered a widespread outage. Zoom separately also announced that it would release fourth-quarter earnings results on March 4.
Microsoft Teams went down earlier in this morning after the software giant reportedly forgot to renew a security certificate that is necessary to connect to Microsoft's servers. Such a relatively simple mistake is rather embarrassing for one of the largest tech companies in the world, but Microsoft was able to quickly deploy a fix and restore service to Teams, which competes with Zoom's online videoconferencing and collaboration platform.
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Source Fool.com
