Zoom surges as much as 7% to all-time highs following inclusion in Nasdaq 100 Index (ZM, QQQ, WLTW)

Carlo Allegri/Reuters

• Shares of Zoom Video Communications surged as much as 7% in Friday’s trading session to new all-time highs after it was announced that the company would be included in the Nasdaq 100 Index on April 30.
• The company has seen its daily user base surge 2,900% since the coronavirus outbreak.
• Shares of Zoom have risen more than 400% since pricing its IPO at $36 per share in 2019.
• Visit Business Insider’s homepage for more stories.

Shares of Zoom Video Communications surged as much as 7% to $181.50 in Friday’s trading session after Nasdaq announced Thursday night that the Nasdaq 100 Index would replace Willis Towers Watson with Zoom prior to market open on April 30.

Today’s move follows yesterday’s 12% surge after the company announced it had surpassed 300 million daily active users, representing a 2,900% increase from December 2019 when the company had 10 million daily active users. The company’s video conferencing software has become popular among customers stuck at home during lockdowns due to the coronavirus.

Read more:The CIO overseeing $270 billion at Guggenheim says stocks will plunge another 27% from current levels — but lays out a series of recommendations for bargain-hungry investors

Zoom stock is up more than 400% since pricing its initial public offering at $36 in April 2019.

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