Why Zoom Stock Jumped on Wednesday and Then Retraced Much of Its Gain
Shares of videoconferencing platform Zoom Video Communications (NASDAQ: ZM) initially surged on Wednesday. The stock rose as much as 10.7%. But shares gave up much of that gain late in the trading day, closing 3.6% higher, about in line with the S&P 500's rise on Wednesday.
Investors seemed pleased with the tech company's plans to improve privacy, following reports that hackers have been interrupting some Zoom video sessions. But some investors were spooked on Wednesday afternoon when BuzzFeed reported that Alphabet's Google had banned the video conferencing platform from its employees' devices.
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Source Fool.com
