Date: 3 months ago   Category: Markets

Because of a mistake of investors the share price of the Chinese company grew in one thousand times


Actions of the small producer of the telecommunication equipment from China of Zoom Technologies less than in a month rose in price more than in one thousand times — from 0.5 cents to 6 dollars. It is explained with the fact that recently the IPO was carried out by the Californian service of video conference Zoom Video Communications with which confuse the Chinese company, RBC reports. Both companies put the word Zoom on logos, though use different exchange tickers (the short name of actions in exchange information) there are ZOOM and ZM. The Chinese company Zoom Technologies went public in 1990, Zoom Video Communications was placed at the leading world technological exchange NASDAQ only on April 18, 2019. The quotations of Zoom Technologies went up on March 22 after the Californian company declared the IPO. In one day the cost of the Chinese company was raised for 1100 percent — from 0.5 cents to 0.6 dollars. Though the Business Insider portal warned about confusion, papers of Zoom Technologies all the same rose in price. On April 15-16 their price grew to six dollars apiece that in 1.2 thousand times it is, more, than was on March 19. Earlier the Dow Jones Newswires agency brought down stocks of the American developer of the video games Activision Blizzard Inc. Though the company finished the first quarter 2018 with record revenue in 1.97 billion, the agency published the first report ahead of time and with a mistake — in the document income of the company was underestimated to 1.7 billion dollars. After that the stocks Blizzard dropped by six percent though information was quickly corrected. What occurs in Russia and in the world? We explain on our YouTube channel. Subscribe!

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