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This is What Fueled RigNet Inc.'s Nearly 15% Rebound in July

TheMotleyFool

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This is What Fueled RigNet Inc.'s Nearly 15% Rebound in July

Shares of RigNet (NASDAQ: RNET) continued rebounding last month, closing 14.5% higher.

One of the catalysts for RigNet's rebound was that oil enjoyed its best month since April of last year, rising 9% for the month and taking most oil stocks higher. However, crude's rebound wasn't the only driver of RigNet's rally last month because the company closed not one but two strategic acquisitions that should fuel future growth.

Image source: Getty Images.

Source: Fool.com