Shares of Opera Limited (NASDAQ: OPRA) dropped to their all-time low of $3.49 per share on Oct. 24, 2022, which was 71% below its initial public offering price of $12 from 2018. But after reaching that trough, Opera's stock soared to a record high of $27.83 on July 13, 2023.

That rally was driven by two main catalysts. First, it partnered with OpenAI, the creator of ChatGPT, to add AI-generated content services to its web browser's sidebar. That partnership led to the launch of Opera One, a new version of its browser with integrated AI features, in late June. Second, it posted a series of solid quarterly reports.

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Source Fool.com