Why Shares of Nutanix Popped Today

Shares of Nutanix (NASDAQ: NTNX) jumped on Friday, up 10.4% by the close. There was no company-specific news for the cloud software company, so it's not clear what exactly drove the stock higher.

Shares of Nutanix have tumbled since peaking back in 2018, down more than 50% from their all-time high. The company has been transitioning to a subscription business model, which is putting pressure on sales and profits as revenue is recognized over time instead of up front.

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Source Fool.com