Why Intuit Stock Soared 69% Higher in 2021

Shares of Intuit (NASDAQ: INTU) -- the top fintech company that owns TurboTax, QuickBooks, and Credit Karma -- jumped 69% higher in 2021 according to data provided by S&P Global Market Intelligence. That's on top of the 45% gain in 2020, as Intuit's financial services software is getting a lift from the rapid pace of new small business creation.

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According to the U.S. Census Bureau, new business applications have surged to record highs since the start of the pandemic, averaging over 400,000 per month in 2021. While not all businesses will make it, the trend is a clear benefit to Intuit and its stable of software for taxes, accounting, and other financial management.  

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Source Fool.com