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According to most financial sites, shares of Zoom Technologies Inc. (ZTNO) just suddenly went to zero.

Before anyone panics, I'm not referring to Zoom Video Communications Inc. (ZM), the maker of the popular Zoom videoconferencing and meetings platform.

I've been watching Zoom Technologies Inc., out of curiosity, since it went sky-high as people mistook it for the other Zoom.

Zoom Technologies Inc. was given a new stock ticker symbol due to the confusion, and the OTC equity quickly went back to reasonable levels.

Since the change in ticker symbols, the OTC equity was trading at between $0.25 and $0.80 per share. Very recently (the last several weeks), highly unusual trades at wildly different prices caught my eyes. Now that the price per share suddenly dropped to zero, I wonder if something fishy was going on.

What's even more odd, is that Zoom Technologies is reportedly a Chinese holding company that owns several subsidiaries that manufacture, research, develop, and sell electronic communication products for mobile phones, wireless communication circuitry, and related software products that are both exported and sold domestically (source: bloomberg.com). The company also reportedly owns a subsidiary that develops video games. The company has reportedly been around since 1997. It seems unlikely that all its various subsidiaries would suddenly fail at the same moment, possibly without any notice.

Does anyone know what happened here? If it was a scam, can you explain how the scam likely worked?

End Anti-Semitic Hate
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  • Glitch? At the moment (22:46 in the UK, 44 mins after you posted), Yahoo (https://finance.yahoo.com/quote/ZTNO) is showing ZTNO at 0.1510. Also, when you say "The stock was given a new ticker symbol due to the confusion" it's not clear which stock you're talking about... my guess (given Yahoo gives a "can't find" response for ZOOM) is that the non-video-conferencing company had its ticker changed from ZOOM to ZTNO. – TripeHound Oct 22 '20 at 21:51
  • @TripeHound Thank you for pointing out that my use of the word "it" was not clear. It's ironic that I created that ambiguity given that I have a close friend who regularly confuses me with unclear pronouns. I've clarified that sentence. Yes, IIRC, ZOOM was ZTNO's ticker before someone decided it needed to be changed. I just checked a couple sites, and like you, I see ZTNO now trading above 0.15. I think it's very unusual if the zero price was a glitch (although others would know better than I), but anything's possible. – End Anti-Semitic Hate Oct 22 '20 at 23:24
  • Rock - glitches like that are really common and totally unremarkable. You can in fact dig around and find the "underlying" every time and price sale. – Fattie Oct 23 '20 at 12:01
  • @Fattie Thank you. What do you mean by the "underlying" and "price sale"? – End Anti-Semitic Hate Oct 23 '20 at 14:12
  • If you dig around, it's possible to see every single sale, every single trade. It will show the exact time and exact price each and every trade happened at. When this info is represented on charts/reports/etc, there's often a glitch. – Fattie Oct 23 '20 at 14:24
  • @Fattie Thanks. Do you have some recommended sites to see such data? – End Anti-Semitic Hate Oct 23 '20 at 14:31
  • @Fattie Also, what is the cause of these glitches, and where is the problem? Could make a real good answer. – End Anti-Semitic Hate Oct 23 '20 at 14:36
  • @RockPaperLz-MaskitorCasket in fact there are a number of questions about this, where, experts have answered extensively. i will try to find one, or someone else will! really i think the answer is just "sloppy presentation of data". there was an interesting one about how the charts indicating supposed hourly data on two different sites were totally different – Fattie Oct 23 '20 at 15:09
  • @RockPaperLz-MaskitorCasket This kind of data ("Time & Sales" or "consolidated tape") is definitely not freely available on the internet. You will definitely need to pay to access historical time & sales data for OTC stocks. – Flux Oct 23 '20 at 15:20
  • @Fattie Thank you so much. I have sometimes seen things that look so wrong with data presentation, but I assumed "they know more than I" and that I'm just not understanding something correctly. It's good to know that such an assumption may be erroneous. – End Anti-Semitic Hate Oct 23 '20 at 15:39
  • @Fattie Thanks. Done! Maybe someone knows: https://money.stackexchange.com/questions/132193/why-are-there-so-many-glitches-in-stock-market-equity-data – End Anti-Semitic Hate Oct 23 '20 at 16:08

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