Why Zoom Stock Zoomed Almost 7% Higher Today
A title conferred by a prominent tech industry researcher put some real zip in Zoom Video Communications' (NASDAQ: ZM) stock on Hump Day. By the time the smoke had cleared, Zoom's closing share price was 6.9% higher, eclipsing even the robust 3%-plus gain of the S&P 500 index on the day.
Zoom announced, with obvious delight, that it has been named a leader and visionary in Gartner's Magic Quadrant for unified communications as a service (UCaaS) worldwide. This followed the research company's evaluation of 12 businesses involved in the UCaaS segment.
Zoom didn't hesitate to mention that this is the third year in a row it has been tipped as a UCaaS leader by Gartner. The researcher's Magic Quadrant reports are influential analyses of various segments of the tech sector.
Source Fool.com
