FVRR - Why Fiverr Stock Rocketed Higher This Week
Shares of Fiverr International (NYSE: FVRR) , a platform for freelance services, soared 23.7% this week, according to data from S&P Global Market Intelligence , as investors digested the latest Federal Reserve interest rate. The Fed increased the rate by just 25 basis points.
But despite Fiverr's meteoric share price rise this week, the gig economy stock is still down 46% over the past 12 months.
Investors took the Fed's latest interest rate hike as a positive sign for both inflation and the economy. The previous six interest rate increases have been well above 25 basis points over the past year, and a lower rate hike comes as the pace of inflation is slowing down.
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Why Fiverr Stock Rocketed Higher This Week