SSTI - Why ShotSpotter Stock Soared 30% in February While the Market Plunged
Shares of gunfire-detection technology specialist ShotSpotter (NASDAQ: SSTI) soared 29.7% in February, according to data from S&P Global Market Intelligence.
That performance is even stronger than it might initially seem when you consider that the S&P 500 index dropped 8.2% last month. The market's sell-off was driven by concerns that the spread of the novel coronavirus, COVID-19, could curb global economic growth.
During the first week of March, ShotSpotter stock gave back 4.4% -- while the broader market rose 0.7% -- but it's still up 33.5% in 2020 through March 6, compared with the S&P 500's return of negative 7.7%.