VMEO - Why Vimeo Stock Jumped on Thursday
2023-05-04 13:43:53 ET
Shares of the digital video solutions provider Vimeo (NASDAQ: VMEO) jumped on Thursday, rising 11% by 1:30 p.m. ET, compared to a 0.7% decline in the S&P 500 . The rally put the volatile stock back in positive territory for the year, up 5% so far in 2023 compared to the wider market's 6% rise.
This jump was sparked by positive news on the earnings front.
Vimeo published Q1 operating results before the market opened on Thursday, and Wall Street was happy with the update. While the company's sales continued to shrink, as they did in late 2022, financial trends improved.
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Why Vimeo Stock Jumped on Thursday