Why Global-E Online Stock Was on Fire Tuesday
Shares of Global-E Online (NASDAQ: GLBE) surged sharply higher Tuesday, jumping as much as 15.4%. At the end of the trading day, the stock was still up 15.3%.
The catalyst that sent the cross-border e-commerce platform soaring was bullish commentary courtesy of a Wall Street analyst who began covering the stock.
Needham analyst Scott Berg initiated coverage on Global-E Online with a buy rating, while also issuing a price target of $75. His new estimate would represent potential gains for investors of more than 35% over the coming year, compared with the stock's closing price on Monday.
Source Fool.com
