Why Digital Turbine Stock Soared 57% in November

Shares of Digital Turbine (NASDAQ: APPS) soared 56.9% in November, according to data provided by S&P Global Market Intelligence. Companies want their apps to be downloaded by the masses, and that's what Digital Turbine's business is all about. That might not sound like much, but last month this stock market darling was recognized for its outstanding growth in this niche.

To be clear, most of Digital Turbine's November gains came without a clear catalyst. Despite the company reporting quarterly results that beat analyst expectations in October, the stock fell hard to close the month. This appears to have been a short-term reaction from the market -- perhaps just some people locking in some of 2020's incredible gains. But it didn't take long for Digital Turbine to resume its upward march as the new month began.

Image source: Getty Images.

Source Fool.com