The News

2 Zooms soared after the IPO: Did you buy the wrong one?

NEW YORK (AP) — One IPO, two stocks zooming higher.

Investors on Thursday pounced on their first chance to buy shares of Zoom Video Communications, the video-conferencing company that had its initial public offering of stock. It shares surged 72.2% from their IPO price of $36.

But others may have mistakenly bought Zoom Technologies, a company whose stock was trading for less than a penny in February and whose shares were delisted from the Nasdaq in 2014. Its total market value is less than one-thousandth of the more famous Zoom.

Shares of Zoom Technologies — ticker symbol “ZOOM” versus “ZM” for the ballyhooed IPO — surged as much as 124.5% in Thursday morning trading. Enthusiasm for the stock faded as the day went on — perhaps as more investors figured out the dual Zooms — and it ended the day up a more modest 10.2%.

Zoom Technologies had an even bigger leap of 1,100% in March, when Zoom Video Communications filed its IPO. Its shares closed that day at 6 cents.