DCT - 2 Tiny Nasdaq Stocks Making Major Merger Moves Monday
The Nasdaq Composite (NASDAQINDEX: ^IXIC) might finally be looking to gain some momentum in 2023, with investors desperately wanting a reversal from 2022's horrible performance. Sizable gains on Friday helped to build more positive sentiment, and the bullish move continued on Monday morning, with the Nasdaq rising 1.5% at midmorning.
Big-name companies get the headlines most of the time, but sometimes, news of mergers and acquisitions pushes a little-known company into the spotlight. That was true of not one but two small-cap stocks on Monday, as both Duck Creek Technologies (NASDAQ: DCT) and Albireo Pharma (NASDAQ: ALBO) made big gains on merger news. Read on for the details.
Shares of Duck Creek Technologies jumped 47% as of 10 a.m. ET. The move came as the insurance-technology specialist announced it had entered into an acquisition agreement with a well-known private equity company.
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2 Tiny Nasdaq Stocks Making Major Merger Moves Monday