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Why Zoom Video Communications Stock Was Up 28% in August

TheMotleyFool

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Why Zoom Video Communications Stock Was Up 28% in August

Shares of Zoom Video Communications (NASDAQ: ZM) were up 28% in August, according to data provided by S&P Global Market Intelligence. The stock's outsized gains didn't get started until later in the month when analysts began predicting blow-out results for the company's upcoming second-quarter earnings report. Investors began bidding up the stock in anticipation.

Zoom reported earnings on Aug. 31, and calling it a blow-out quarter would be an understatement. A Bank of America analyst had one word to sum it up: "unprecedented."