Why Goosehead Insurance Stock Skyrocketed on Thursday
Goosehead Insurance (NASDAQ: GSHD) was surging on Thursday, as it was up as much as 20.3% during morning trading. As of 2:50 p.m. ET, the stock price was up 15.1%. The stock is currently trading at around $44 per share, up roughly 30% year to date (YTD).
It outperformed the major indexes on Thursday, as the S&P 500 was up 18 points (0.5%), the Dow Jones Industrial Average gained 57 points (0.2%), and the Nasdaq Composite climbed 68 points (0.6%) as of 2:50 p.m. ET.
Goosehead Insurance, based in Westlake, Texas, is a personal lines property and casualty insurance agency that has some 1,400 franchises across the country. On Wednesday afternoon, the company posted robust revenue and earnings gains in the fourth quarter, which sent the stock price spiking on Thursday.
Source Fool.com
