Shares of Zoom Video Communications Inc. rose 1.1% in afternoon trading Wednesday, putting them on track for a fourth-straight record close, after the company named a 20-year software security industry veteran as its new chief information security officer. The videoconference software company's ( ) stock bucked the selloff in the broader stock market ( ), which came amid growing concerns over the recent surge in new COVID-19 cases ( ). Zoom said Jason Lee, who was previously senior vice president of security operations at Salesforce.com Inc. (CRM) and principal director of security engineering at Microsoft Corp. (MSFT), will join the company, effective June 29. Zoom's stock has nearly quadrupled year to date (up 276%), while the S&P 500 has lost 5.2%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
June 24, 2020 13:21 ET (17:21 GMT)
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