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Why Spire Stock Rocketed Last Night

TheMotleyFool

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Space-based data and analytics company Spire Global (NYSE: SPIR) reported preliminary fourth-quarter earnings last night, sparking an immediate reaction among after-market traders. In after-hours trading, Spire stock jumped as much as 22% in response to news that the company will exceed analyst expectations for $12.9 million in revenue in Q4 -- and keep on beating estimates all year long.

But by 10:30 a.m. ET today, almost all of Spire's gains had evaporated, leaving the stock up only 2%. Why?

Image source: Getty Images.

Source Fool.com

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