Why Palantir, Twilio, and HubSpot Each Surged Over 20% in January
Shares of Palantir (NYSE: PLTR), Twilio (NYSE: TWLO), and HubSpot (NYSE: HUBS) each had a great month of January, rising 21.2%, 22.2%, and 20%, respectively, according to data from S&P Global Market Intelligence.
These enterprise software stocks share some common attributes. First, each represents a high-growth yet unprofitable company, and that type of security generally saw a large decline in value in 2022. That primed growth stocks for a rebound in 2023, as short-sellers booked profits and inflation seemed to moderate at the end of the year.
Second, each is part of a new cohort of software businesses that enable companies to do more with data and automate either operations or customer communications. So while growth could very well decelerate in a slowing economy, these three companies should continue to grow somewhat through a downturn because they help other businesses become more efficient.
Source Fool.com
