Shares of Zoom Technologies Inc., a Beijing-based maker of mobile phone components with a market value of just $18 million, have more than doubled this week as investors bet on companies that could benefit if coronavirus fears push people to stay at home.
Sign up for our daily coronavirus newsletter by clicking on this link, and please send any tips, leads, and stories to virus@time.com.
There’s just one problem — its ticker is ZOOM, but investors may be thinking of California-based Zoom Video Communications, known for its online video-conferencing platform that could help people work and study from home. That company’s ticker is ZM, and its shares have risen about 11% this week amid widespread market turmoil.
It’s not the first time the wrong Zoom has surged, with Zoom Technologies shares soaring after Zoom Video’s IPO last year.
More Must-Reads from TIME
- Cybersecurity Experts Are Sounding the Alarm on DOGE
- Meet the 2025 Women of the Year
- The Harsh Truth About Disability Inclusion
- Why Do More Young Adults Have Cancer?
- Colman Domingo Leads With Radical Love
- How to Get Better at Doing Things Alone
- Michelle Zauner Stares Down the Darkness
Contact us at letters@time.com