Why Digital Turbine Stock Was Flying Higher Today
Shares of Digital Turbine (NASDAQ: APPS), a company specializing in app installation software, were flying higher today after it was announced it's being added to the S&P MidCap 400 index. As of 9:45 a.m. EDT, the stock was up a cool 11%.
To explain why this news leads to an increase in share price, let's talk about supply and demand. According to Yahoo! Finance, Digital Turbine has a float of almost 87 million shares; that's the supply of shares out there to be bought and sold.
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Source Fool.com
