Why Gravity Stock Was Up Almost 20% in May
Shares of South Korean video game company Gravity (NASDAQ: GRVY) were up 19.6% in May, according to data provided by S&P Global Market Intelligence. And this outperformance has continued into June, with it up about another 8% as of this writing. Over this time, the stock's biggest jump came following the release of financial results for the first quarter of 2021.
In Q1, Gravity generated revenue of roughly $93 million. This was up 43% year over year but down 6.6% from the previous quarter. This was the company's second consecutive quarter of a sequential decline in revenue.
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Source Fool.com
