FVRR - Why Fiverr Stock Soared 20% Last Month
Shares of Fiverr International (NYSE: FVRR) rose 20.5% in January, according to data from S&P Global Market Intelligence . The operator of a leading marketplace for freelance services didn't unleash this move through some stunning product announcement or bullish analyst report. Instead, it was a welcome breather after many moons of falling stock prices. The global economy inspired both the negative trend and the sharp reversal.
Let me take you back a couple of years. Fiverr was on top of the world in early 2021. Sales had nearly doubled year over year in October's third-quarter report, and free cash flows were doing the same.
Users flocked to Fiverr's services in the lockdown phase of the COVID-19 crisis, and they kept coming back even as coronavirus mitigation efforts started to lighten up. By Feb. 12, 2021, stock prices had surged 1,140% in 52 weeks.
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Why Fiverr Stock Soared 20% Last Month