Zoom Video Communications Inc (NASDAQ:ZM) is trading higher Friday after the Institutional Shareholder Services recommended to vote against the company’s proposed bid to acquire Five9 Inc (NASDAQ: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.
