LPSN - Why LivePerson Stock Jumped Today
Shares of LivePerson (NASDAQ: LPSN) have jumped today, up by 11% as of 3 p.m. EST, amid a broad rally for tech stocks that are recovering after tanking for the past couple of weeks. The Nasdaq Composite is up a whopping 4%, far outpacing the gains in the other major indexes. There is no company-specific news driving LivePerson's move higher.
Growth-oriented tech stocks have been under relentless selling pressure for two weeks due to inflation fears that have spurred a spike in interest rates. After tapping an all-time high of over $72 last month, LivePerson shares had shed roughly 30% of their value through yesterday's close.
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Why LivePerson Stock Jumped Today