Why Shares of Anaplan Surged 12.4% in May

Shares of Anaplan (NYSE: PLAN) rose 12.4% in May, according to data from S&P Global Market Intelligence. The company reported its first quarter earnings report late in the month, but that actually caused a drop in the stock price, after an early month rally.

The cloud-based connected planning software company seemed to benefit throughout the month from investors betting on the continued adoption of new-age enterprise planning and software products, as people began to work from home and customers access products and services more on a digital basis amid the coronavirus.

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Source Fool.com