: A day after IPO, Zoom Video is the most highly valued tech stock by this metric

Zoom Video Communications Inc. shares skyrocketed to rare heights Thursday after the videoconferencing company launched its initial public offering, giving Zoom the highest tech company valuation relative to its sales on Wall Street.

Zoom Video ZM, +72.22% shares surged more than 80% to an intraday high of $66 and closed up 72% at $62 in their trading debut Thursday on the Nasdaq, after the company priced 20.9 million IPO shares at $36 Wednesday evening. The company filed for its IPO in late March, and had raised its expected pricing to a range of $33 to $35 a share on Tuesday, up from a previously expected range of $28 to $32 a share.

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