Why Zoom Video Shares Are Trading Higher Today

Zoom Video Communications Inc ZM is trading higher Friday after the Institutional Shareholder Services recommended to vote against the company's proposed bid to acquire Five9 Inc FIVN.

“The all-stock deal exposes Five9 shareholders to a more volatile stock whose growth prospects have become less compelling as society inches towards a post-pandemic environment," the Institutional Shareholder Services said.

Zoom Video provides a communications platform that connects people through video, voice, chat and content sharing. The company's cloud-native platform enables face-to-face video and connects users across various devices and locations in a single meeting.

ZM Price Action: Zoom Video has traded as high as $588.84 and as low as $273.20 over a 52-week period.

The stock was up 3.04% at $286.67 at time of publication.

Photo: courtesy of Zoom Video.