Why Okta Stock Gained 19% in November
Okta (NASDAQ: OKTA) stock beat the market last month by jumping 19%, compared to a 3.4% boost in the S&P 500, according to S&P Global Market Intelligence. The boost added to a significant rally for shareholders this year, with the stock rising roughly 100% in 2019.
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November's rally came as Wall Street grew more confident in the identity security specialist's growth outlook. Okta is still generating net losses and operates under a significant debt burden. Yet sales growth is spiking as it gains a valuable foothold in the quickly expanding market for digital identity management.
Source Fool.com
