FVRR - Why Fiverr Stock Jumped This Week
Fiverr International (NYSE: FVRR) shareholders beat the market this week as shares jumped 18% through 3 p.m. ET on Thursday. That's compared to a 2.1% rise in the wider market, according to data provided by S&P Global Market Intelligence .
The tech stock is still in deeply negative territory so far in 2022, down nearly 70%. However, improving investor sentiment has investors feeling more optimistic heading toward the company's next earnings update in a few days.
The main reason for Fiverr's stock-price rally this week is the fact that the Nasdaq Composite index, home to this and many other hard-hit growth stocks, soared. It jumped roughly 10%, pulling higher many battered stocks that had been sold down on fears of an impending recession.
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Why Fiverr Stock Jumped This Week