Zoom Video Ipo Day 1

Zoom video ipo day 1

Zoom video ipo day 1

NEW YORK -- 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.

Zoom video ipo day 1

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.

Eric Yuan, Founder and CEO of Zoom - #077

Its shares closed that day at 6 cents.