Jim Cramer Says Buy Zoom Stock
Zoom was accused of shutting down the accounts of pro-democracy protesters in Hong Kong and the U.S., according to a report in the Washington Post.
Zoom Video has been accused of stopping coverage of live events and shutting down accounts in recent weeks under pressure from leaders in Beijing.
Zoom on Thursday admitted that "a few recent meetings" related to China have been disrupted.
"It is not in Zoom's power to change the laws of governments opposed to free speech. However, Zoom is committed to modifying its process to further protect its users from those who wish to stifle their communications," Zoom said.
The company said that it will not comply with requests from the Chinese government to suspend hosts or block people from meetings if the meetings are not located in mainland China.
"Going forward Zoom will not allow requests from the Chinese government to impact anyone outside of mainland China," the company said in a blog post.
"Zoom is developing technology over the next several days that will enable us to remove or block at the participant level based on geography. This will enable us to comply with requests from local authorities when they determine activity on our platform is illegal within their borders; however, we will also be able to protect these conversations for participants outside of those borders where the activity is allowed."
So, what does this mean for Zoom investors?
Jim Cramer said Zoom isn't working with the Chinese Communist party and the stock is a buy.
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