Zoom stock up on news it will join Nasdaq 100 on April 30

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Zoom founder Eric Yuan poses with members of his company in front of the Nasdaq building in New York as the screen shows the logo of the video-conferencing software company Zoom after the opening bell ceremony on April 18, 2019.

Kena Betancur | Getty Images

Zoom shares rose 5% Friday morning after the Nasdaq announced the video conferencing company is joining the Nasdaq 100 next week and two days after it reported a surge in active users.

When it joins the Nasdaq 100 on April 30, Zoom will also enter the Invesco QQQ Trust, the second-most highly traded ETF in the U.S. Zoom will replace Willis Towers Watson in the index, Nasdaq said. 

Zoom has been on a tear since stay-at-home mandates were implemented to slow the Covid-19 pandemic. Zoom CEO Eric Yuan announced earlier this week that the company’s number of daily users grew 50% in the past month to 300 million from 200 million. The company reported about 10 million daily users in December. 

“Clearly the Zoom platform is providing an incredibly valuable service to our global users during this challenging time,” Yuan said. 

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