Why Digital Ocean Surged Nearly 12% Higher Today
Cloud computing services provider Digital Ocean (NYSE: DOCN) was a big winner in the stock market sweepstakes Thursday. The company's shares rose almost 12% on the day, in sharp contrast to the slumping S&P 500 index. This followed the latest in a series of positive analyst reactions to a broad customer price increase announced by the company.
That hike, under which certain products will cost up to 20% more starting July 1, is the first in Digital Ocean's history. Although that looks high at first glance, it's worth noting that many of the company's offerings are relatively inexpensive (a basic virtual server, for example, is priced at $5 per month).
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Source Fool.com