The S&P 500 has gotten off to a lackluster start in 2022, down 8.8% since the year started. During that same time, Virtu Financial (NASDAQ: VIRT) has crushed it, up 22% year to date and recently hitting a 52-week high.
The firm recently posted fourth-quarter earnings that crushed analysts' predictions, beating revenue expectations by 32% and earnings per share (EPS) estimates by 48%. Investors were also encouraged by its quarterly earnings growth after it lagged for much of 2021. I think Virtu is positioned well to keep going higher from here. Here's why.
As a market-making firm, Virtu provides liquidity to global markets. Market makers make it easy for traders to easily open and close positions in stocks or other types of assets, standing ready to take a position on any order that comes across. If you want to buy a stock or sell an option, they are there for you.
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This Value Stock is Up 22% This Year and Recently Hit a 52-Week High: Should You Buy It?