Shares of Fiverr International (NYSE: FVRR) were up 24.3% in the first half of 2021, according to data provided by S&P Global Market Intelligence . The stock was up close to 60% early in the year as investors cheered the company's progress in facilitating the rising gig economy. However, it also closed out the first half of the year down 25% from its six-month high, falling hard when growth stocks pulled back and also pulling back sharply upon announcing a follow-on stock offering.
Fiverr was firing on all cylinders in February, starting with running its first commercial during the National Football League's championship game. Then on Feb. 10 and 11, the company bolstered its market opportunity by launching a new feature called Subscriptions and by acquiring a rival company called Working Not Working. The new Subscriptions product allows Fiverr to provide a service for a new user base that isn't being served by its per-project core service. And Working Not Working is more of a high-end platform, allowing Fiverr to reach more of the overall gig market.
Image source: Getty Images.
For further details see:
Here's Why Fiverr Stock Was Up 24% in the First Half of 2021