SWCH - Why Switch Stock Soared 13% in May
Shares of data center operator Switch (NYSE: SWCH) jumped 13% in May, according to data provided by S&P Global Market Intelligence . While the company reported strong first-quarter results last month, the big driver was its agreement to a buyout transaction with two infrastructure investors.
First-quarter results, reported in early May, showed $164.6 million in revenue, up 26% from the year-ago quarter. That's due to the recent acquisition of Data Foundry and strong organic growth as customers secure more capacity in its data centers.
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Why Switch Stock Soared 13% in May