Why Twilio, Bill.com, and Atlassian Surged Double Digits This Week
Shares of high-growth enterprise-software companies Twilio (NYSE: TWLO), Atlassian (NASDAQ: TEAM), and Bill.com (NYSE: BILL) surged this week, up 12.9%, 13.5%, and 12%, respectively, through Thursday. Atlassian officially changed its domicile to the United States from the United Kingdom this week, and Twilio announced some illustrious guests for its upcoming SIGNAL developers conference.
However, the synchronous moves more likely had to do with investors latching onto hopes of cooling inflation after several soft economic-data points.
On Monday, data-analytics firm Black Knight released its August Mortgage Monitor Report, which showed a second-straight month of declining nationwide housing prices. They're now roughly 2% below their June peak. Then on Tuesday, the Job Openings and Labor Turnover Survey (JOLTS) released by the Bureau of Labor Statistics showed a near 10% drop in the number of job openings.
Source Fool.com
