Why Zoom's Stock Is Trading Higher Today

Zoom Video Communications ZM shares are trading higher on Thursday, after the company announced it has acquired Keybase.

Keybase was launched in 2014, and has a team of engineers who have built a messaging and file-sharing service using their encryption and security expertise.

“We are excited to integrate Keybase’s team into the Zoom family to help us build end-to-end encryption that can reach current Zoom scalability," the company said in a statement.

Zoom Video is popular in the virtual communication space and offers a cloud platform for video, audio conferencing, chat and webinars.

Zoom Video shares were trading up 6.87% at $159.86 on Thursday. The stock has a 52-week high of $181.50 and a 52-week low of $60.97.

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