Why Universal Display Stock Jumped Nearly 22% Last Month
Shares of Universal Display Corporation (NASDAQ: OLED) jumped 21.6% in November, according to data provided by S&P Global Market Intelligence, far outpacing the roughly 9% gain for the S 500. And the outperformance really boils down to its financial report for the third quarter of 2023.
Universal Display -- a company specializing in organic light-emitting diode (OLED) technology -- reported Q3 results on Nov. 2, showing declines on both the top and bottom lines. However, Universal Display's business has some cyclicality, and investors were prepared for a pullback. Therefore, the market was listening more for what's coming in 2024.
In the conference call to discuss Q3 results, Universal Display's management said, "We continue to believe that we are on track to introduce our all-phosphorescent RGB stack into the commercial market in 2024." And, as I'll explain, that's exactly what investors want to hear.
Source Fool.com
