Why Angi Stock Rallied Nearly 15% This Week
Shares of Angi (NASDAQ: ANGI), which offers an online service that connects home repair and services experts with potential customers, were higher by as much as 15% or so this week, according to data from S&P Global Market Intelligence. As trading got underway on Friday, Dec. 10, they were sitting at the high end of their weekly range, with a roughly 14.5% advance. There was no particular news out of Angi that would have precipitated this move, but there are some other factors here that might have led investors to reevaluate the shares.
The biggest news out of Angi this week came on Dec. 7, when the company released survey results about home improvement trends after having spoken to around 6,400 homeowners. It was interesting reading, noting that home improvement spending rose in 2021 and that the most common improvements were interior painting and bathroom remodels. It's worth taking a look at the report if this type of data interests you, but it really wasn't something that you would expect to move the stock price.
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Source Fool.com
