Because of the coronavirus pandemic, of course. But... the company is not involved in videoconferencing.
According to Yahoo finance "Zoom Technologies, Inc. does not have significant operations. Previously, it distributed wireless communication products in the United States. The company is headquartered in Beijing, China."
The chart shows the price action YTD, with shares trading at about $1 in January. That March 20 peak is a close at about $21 after reaching an intraday high of $60. The company is clearly being confused with Zoom Video Communications (ticker symbol ZM), which makes the networking app.
The FCC has suspended trading in ZOOM, citing "concerns about the adequacy and accuracy of publicly available information concerning ZOOM, including its financial condition and its operations, if any, in light of the absence of any public disclosure by the company since 2015" and because of confusion with ZM.
ZOOM is what a lot of 12 Step groups, including my own, are using for our meetings now.
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