- Dec 11, 2018
The US Securities and Exchange Commission (SEC) has taken action by suspending the shares of a small Chinese company called Zoom Technologies after investors were confusing it with the video-calling app Zoom.
The regulator recently revealed that it was halting trading of the Beijing-based company's shares until April 8th over concerns that investors were “confusing this issuer with a similarly-named NADAQ-listed issuer... which has seen a rise in share price during the ongoing Covid-19 pandemic.”
SEC steps in to prevent investors from buying the wrong Zoom
Zoom's growing popularity led investors to buy shares of the Chinese company Zoom Technologies by mistake