Billion-dollar startup Zoom filed to go public — and shares of a totally unrelated company also called called Zoom shot up 1,100% (Business Insider)

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  • Zoom Video Communications, a $1 billion startup, filed for its much-anticipated IPO on Friday.
  • Zoom Technologies, a completely unrelated company, saw its shares spike 1,100% in the aftermath.
  • That company trades under the ticker symbol “Zoom,” which likely led to some confusion by trigger-happy investors.
  • Zoom Technologies appears to be a mostly-defunct telecommunications company that hasn’t reported earnings since 2011, and trades as an over-the-counter stock.
  • SOurce
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