Why Many High-Growth Cloud Computing Stocks Skyrocketed Last Month
Shares of many hard-to-value growth stocks in the cloud computing sector surged in April 2020. According to data from S&P Global Market Intelligence, cloud-scale systems monitoring specialist Datadog (NASDAQ: DDOG) rose by 25.4%, just behind a 25.5% gain for cloud communications technologist Twilio (NYSE: TWLO). Online freelancing coordinator Upwork (NASDAQ: UPWK) left them both behind with a gain of 29.2%.
These stocks have a lot in common, beyond working as cloud-based services designed to improve other companies' day-to-day operations.
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Source Fool.com
