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Photographer: Gabby Jones/Bloomberg

Zoom Video Jumps to Record With Market Cap Now Above $50 Billion

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The maker of video conferencing software rose 9.7% to $179.48, giving it a market value of $50.6 billion, bigger than tractor maker Deere & Co. and pharmaceutical company Biogen Inc. While there was no clear reason for the steep rise, technology stocks were the best performing group in the S&P 500 Index, and investors may be positioning ahead of Zoom’s earnings report expected on Tuesday.

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Eric Yuan, Zoom’s founder and chief executive officer, saw his net worth rise by more than $800 million on Friday to $9.3 billion, according to the Bloomberg Billionaires Index.

— With assistance by Nico Grant