Adam Grossman HumbleDollar
If there’s one company that suddenly everyone knows, it’s Zoom, the videoconferencing company. It’s a great product and the stock (ticker symbol ZM) has enjoyed strong gains this year, up 123%. But there’s another Zoom that has done even better. It’s an obscure Chinese company with no revenue that happens to be listed on the U.S. market and with a much better ticker symbol: ZOOM. As a result, this other Zoom’s stock, which in the past typically traded for about a penny a share, has shot up nearly 900% this year.
In the early days of gold mining, majority of prospectors went home empty handed. One who profits consistently are the hardware stores who sold picks and shovels. Same analogy applies here.