Shares of Monday.com (NASDAQ: MNDY) are soaring right now. The stock has gained 53% in a week, including a 21% jump on Wednesday, May 15.

The maker of cloud-based project-management and collaboration tools isn't exactly soaring at all-time highs, though. The inflation-based flight from high-flying growth stocks was tough for Monday.com investors, and the stock fell 60% in 2022.

It has nearly doubled from that point, but it's a long way back to the top. It would take an 88% price gain to revisit the peak price of $445 per share in early November 2021.

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Source Fool.com