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        <title><![CDATA[Zoom confusion leads SEC to halt trading for Chinese company]]></title>
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            <media:title type="html">Zoom confusion leads SEC to halt trading for Chinese company</media:title>
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        <content:encoded><![CDATA[<p>The Feds on Thursday clamped down on trading in shares of an obscure, China-based company called Zoom Technologies, concerned that investors have been confusing it with the teleconferencing giant whose stock has surged amid the coronavirus crisis.</p><p>The Securities and Exchange Commission said it suspended trading on the Chinese firm until April 9 because of concerns about investors mixing it up with Zoom Video Communications, whose shares have been boosted as the coronavirus pandemic forced people to work from home.</p><p>Zoom Technologies also hasn’t filed any public disclosures since 2015, leading the SEC to worry about “the adequacy and accuracy of publicly available information” about the company, officials said.</p><p>The name is just about all the two companies have in common. Zoom Technologies is a Beijing-based mobile telecom firm with a market value of $31.3 million, while Silicon Valley’s Zoom Video offers a sophisticated video-chat platform and is valued at more than $39 billion.</p><p>Zoom Technologies stock, listed an over-the-counter market under the symbol “ZOOM,” has exploded in value amid the ticker confusion. Its share price climbed as high as $24.20 Monday and finished at $10.40 on Wednesday, up from a close of $3.53 a month before. The company also got a boost last April around the time Zoom Video went public.</p><p>Zoom Video’s Nasdaq-listed shares, trading under the symbol “ZM,” jumped nearly 29 percent over the past month amid <strong>the widespread shift to remote work</strong> to close at $138.11 Wednesday. The Nasdaq Composite index sank more than 17 percent in that time.</p><p>Zoom Technologies used to trade on the Nasdaq Capital Market, but delisted itself in 2014 because it “no longer qualifie[d] as an operating company,” among other reasons, according to press release from the time.</p><p>A Zoom Technologies representative listed on its SEC filings did not immediately respond to a request for comment Thursday. A spokesman for Zoom Video also did not immediately return an email seeking comment.</p>]]></content:encoded>
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