WIX - Why Wix.com Stock Soared to a 52-Week High Today
2024-05-20 11:12:43 ET
Shares of website-building company Wix.com (NASDAQ: WIX) soared on Monday after management reported financial results for the first quarter. As of 10 a.m. ET today, Wix stock was up 19%, hitting its highest price in well over a year.
In the first quarter, much could be said about the top and bottom lines for Wix. But I think the real story here that's exciting investors is the company's free cash flow .
This profit metric looks at how much cash the business brings in and subtracts out cash operating expenses and cash used for buying things such as buildings or equipment. So it can be a good indicator of a business' health.
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Why Wix.com Stock Soared to a 52-Week High Today