Why Ambarella Stock Rose 12% in September
Ambarella (NASDAQ: AMBA) shareholders beat the market month as the stock gained 12% compared to a 2% increase in the S&P 500, according to S&P Global Market Intelligence. The rally put the volatile tech stock in significantly positive territory for the year, up more than 60% so far in 2019.
September's boost was powered by surprisingly strong earnings results that Ambarella announced on the last trading day of August. In that report, the video tech specialist said tariffs and trade disruptions weren't hurting the business by much, and that helped sales declines moderate in the fiscal second quarter.
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Source Fool.com
