Why Zoom Video Communications Shares Are Rising

Shares of several companies in the broader technology sector, including Zoom Video Communications, Inc. ZM, are trading higher following a drop in the 10-year Treasury yield, which has helped lift growth stock valuations.

The 10-year treasury yield was down about 2.7% around the 1.54% level on Wednesday at the time of publication.

Zoom Video Communications, Inc. provides a video-first communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.

Zoom's stock was trading about 4.8% higher at $267.73 per share at the time of publication. The stock has a 52-week high of $588.84 and a 52-week low of $250.11.