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Why Zoom's Stock Is Trading Higher Today

Zoom Video Communications (NASDAQ: ZM) shares are trading higher on Thursday, after the company announced it has acquired Keybase.

Benzinga · 05/07/2020 15:50

Zoom Video Communications (NASDAQ: ZM) shares are trading higher on Thursday, after the company announced it has acquired Keybase.

Keybase was launched in 2014, and has a team of engineers who have built a messaging and file-sharing service using their encryption and security expertise.

“We are excited to integrate Keybase’s team into the Zoom family to help us build end-to-end encryption that can reach current Zoom scalability," the company said in a statement.

Zoom Video is popular in the virtual communication space and offers a cloud platform for video, audio conferencing, chat and webinars.

Zoom Video shares were trading up 6.87% at $159.86 on Thursday. The stock has a 52-week high of $181.50 and a 52-week low of $60.97.

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