Why Global-e Stock Topped the Market Again Today
Niche e-commerce company Global-e Online (NASDAQ: GLBE) was having a fine Thursday on the stock market -- its second consecutive day of market-beating gains. Its shares were enjoying a nearly 4% rise late in the trading session, following Wednesday's 2.5% improvement, on continued bullishness arising from two beneficial factors.
Wednesday morning, Autonomous Research initiated coverage on Global-e stock. Happily for the e-commerce specialist and its investors, Autonomous tagged it with an outperform (buy, in other words) recommendation at a price target of $28 per share. That implies a hefty premium of nearly 22% on the shares' current level.
The reasoning behind this quite bullish analysis wasn't immediately evident. Its publication did, however, closely follow another positive catalyst for Global-e.
Source Fool.com
