Why Zoom Stock Popped Today

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Shares of Zoom Video Communications (NASDAQ: ZM) rose 5.7% on Tuesday after the cloud technology company announced an impressive sales milestone for its business phone system. 

Zoom said it sold one million Zoom Phone seats in the first two years since the product’s launch. “We are excited to see this level of uptake in such a short timeframe,” Graeme Geddes, head of Zoom Phone, said in a press release. “Our customers have come to rely on Zoom to deliver amazing video and audio for them at scale, and they’re seeing tremendous value in consolidating and modernizing their telephony services with us as well.”

Zoom Video Communications’ stock climbed on Tuesday on booming phone sales. Image source: Getty Images.

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