On Monday afternoon, Kevin O'Leary explained why he increased his equity stake in Zoom Video Communications, Inc. (NASDAQ:ZM).
O’Leary believes Zoom is the main source of virtual work and class meetings.
"Zoom is becoming a standard for meeting use," O’Leary said on CNBC's "Halftime Report."
O’Leary believes Zoom is the leading company in the virtual meeting industry due to its integrations and developments. He also mentioned how he believes the company will have a standard for people to start paying for a membership.
"Zoom has pricing power and when a company has pricing power, I buy equity in it," said O'Leary.
Zoom's stock traded around $498 at publication time.