Why Accenture Stock Topped the Market on Thursday
Storied professional services company (NYSE: ACN) is leaping into a cutting-edge segment of the tech world, and investors were happy about the development. On Thursday, following news of its investment in a virtual reality (VR)-powered business, the market sent Accenture's share price nearly 3% higher. That was more than double the percentage gain of the S 500 index on the day.
Accenture announced that it has invested in Praxis Labs, a privately held VR company that utilizes an immersive learning program to teach workplace and other skills. Accenture made the investment through its Accenture Ventures arm.
The company did not specify how much of an investment it made in Praxis. It also did not disclose whether it now holds an equity stake in the business.
Source Fool.com
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