Why Okta Stock Jumped Again Today
Shares of Okta (NASDAQ: OKTA), an identity and access management company, were rising today, likely as investors received positive economic data and as bond yields dropped.
The tech stock was up by 5.7% as of 3:07 p.m. EDT on Thursday.
The broader market was making gains today after the Commerce Department reported that retail sales spiked 9.8% in March. Additionally, the Labor Department reported today that first-time unemployment insurance claims fell to their lowest level since March 2020. This positive economic news boosted investors' sentiment in the market.
Source Fool.com