MNDY - Why Shares of Monday.com Stock Were Soaring This Week
2024-05-17 16:22:00 ET
Shares of Monday.com (NASDAQ: MNDY) were soaring over 25% this week, according to data from S&P Global Market Intelligence . The low-code workplace management software platform posted strong revenue growth yet again in the first quarter of 2024, impressing Wall Street. The stock is now up 22% this year but still off 50% from all-time highs.
Here is why Monday.com stock was up this week.
Monday.com's software aims to be the communications and organizational plumbing of a business. It helps people delegate tasks and is a centralized hub for employee tasks. Essentially, its core use is for managers to assign workers jobs, and monitor their work, all in an organized manner.
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Why Shares of Monday.com Stock Were Soaring This Week