Why Okta Stock Was Up on Monday
Okta (NASDAQ: OKTA) investors beat the market on Monday, as the software-specialist's stock gained 6% by 3:15 p.m. ET. That result easily passed the 0.7% gain in the S&P 500. It continued a positive trend for Okta's stock over the last few weeks, although shares remain lower by almost 70% so far in 2022.
Monday's jump appeared to be driven by a boost in sentiment around tech stocks and Okta's short-term earnings prospects.
The main factor pushing shares higher was the rise in the Nasdaq index, home to many beaten-down tech stocks, like Okta. Other notable software specialists moving higher included Microsoft -- the company's shares were up 2% by 3:15 p.m.
Source Fool.com
