Zoom rockets 72%
on first day of trading
Qualcomm Ventures Investment IPOs raising $356.8 million in its IPO, with existing stakeholders selling additional shares
Videoconferencing software company Zoom made its debut Thursday on the Nasdaq under the ticker symbol “ZM,” surging 80% to $65 and closing out the day up 72% at $62.
At that price Zoom had a stock market value of $15.9 billion. Zoom is among a growing crop of tech companies going public in 2019, but with a twist: it’s profitable.