Why Zoom Stock Jumped on Friday
Shares of Zoom Video Communications (NASDAQ: ZM) jumped sharply on Friday. As of 11:30 a.m. EDT, the stock was up about 4.5%.
Shares of the video collaboration platform specialist were likely up for two primary reasons. First, the broader market was up nicely on Friday -- especially many growth stocks like Zoom. Second, Cathie Wood's Ark Innovation ETF, which grew in popularity in 2020 when the exchange-traded fund crushed the market as it bet heavily on innovative and fast-growing companies, reportedly purchased over 96,000 shares of the company on Thursday. This news may have helped spark interest from more investors.
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Source Fool.com
