Zoom Video shares get 5% lift on release of new hybrid work technology
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Zoom Video Communications (NASDAQ:ZM) shares climbed more than 5% Tuesday as the company unveiled what it said is a new "digital canvas" for better collaboration between hybrid work teams.
Zoom (ZM) said its new Zoom Whiteboard is designed to be a "visual collaboration tool" that will let remote workers have a more realistic experience that is similar to being in an in-person working environment. The new Zoom Whiteboard is designed to integrate with other Zoom (ZM) offerings such as Zoom Meetings, Zoom Rooms for Touch devices.

For the year-to-date, Zoom (ZM) shares are down more than 39%. Last month, Zoom (ZM) got a lift as Benchmark analyst Matthew Harrigan raised his rating on the company's shares to buy from hold on the belief that the stock price could rise 30% over its current levels in the coming months.