Why New Relic Stock Soared on Tuesday

Shares of software-as-a-service company New Relic (NYSE: NEWR) skyrocketed on Tuesday, rising as much as 40.2%. When the market closed, the shares were up 38.5%.

The tech stock gained so much ground because the company, which provides a platform for engineers to build and operate software, reported strong fiscal second-quarter results after the end of the trading day on Monday.

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Source Fool.com