LPSN - Why LivePerson Stock Is Skyrocketing Today

2023-07-12 11:21:21 ET

Shares of LivePerson (NASDAQ: LPSN) are making huge gains in Wednesday's trading following announcements about a leadership transition at the company. The customer service software specialist's stock was up roughly 35% as of 10:30 a.m. ET, according to data from S&P Global Market Intelligence .

LivePerson published a press release this morning announcing that CEO Robert LoCascio will be departing at the end of this year. The company also announced that its lead independent board director Jill Layfield had assumed the role of board chairman. While some investors may think that the company will have better growth prospects with new leadership at the helm, there's likely another dynamic propelling huge gains for its stock.

While many companies with exposure to the generative artificial intelligence (AI) space have enjoyed explosive stock gains this year, LivePerson has struggled. Even with today's big pop, the company's share price is still down roughly 45% across this year's trading.

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