Why Datadog Stock Skyrocketed 58% in May
Shares of Datadog (NASDAQ: DDOG) rose a stunning 58% in May, according to data from S&P Global Market Intelligence, as the cloud application monitoring company reported blockbuster revenue growth in its first-quarter earnings report.
Cloud software stocks have been all the rage over the past few years and especially during the COVID-19 pandemic, as investors anticipate accelerated adoption of these next-generation platforms to enable work, medical care, and education from home. Add Datadog's confirming financial results on top of that, and the powerful combo sent shares vertical during May.
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Source Fool.com
