Shares of freelance work website Upwork (NASDAQ: UPWK) stock jumped as much as 12% in early trading Tuesday before giving back half their gains and retreating to about a 5.9% profit as of 2:45 p.m. EDT.
Why did Upwork go up -- and then go back down a bit? In the absence of any other news, my best guess is that investors are placing their bets on how they think Upwork will do when it reports its Q2 2021 financial results, which are due out just a couple weeks from now, on July 29.
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Why Upwork Stock Is Up 6% Today