ZIP - Why ZipRecruiter Stock Was Up Over 15% on Thursday
ZipRecruiter (NYSE: ZIP) shareholders had a good day on Thursday. The job-posting platform's stock was up 16% by 2:30 p.m. EST compared to a 4.5% spike in the S&P 500 . Shares remain in negative territory so far in 2022, though, down about 32% since early January.
The soaring market played a big role in ZipRecruiter's rally on Thursday. But the more direct factor behind the spike was an encouraging third-quarter earnings update.
ZipRecruiter said before the market opened that sales rose 7% in the Q3 period that ended in late September. The company was also profitable, with net income landing at $21 million, or 9% of sales.
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Why ZipRecruiter Stock Was Up Over 15% on Thursday