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Why Universal Display Stock Gained 13% Last Month

TheMotleyFool

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Why Universal Display Stock Gained 13% Last Month: https://g.foolcdn.com/editorial/images/760634/teacher-drawing-innovation-rocket-on-chalkboard.jpg

Shares of Universal Display (NASDAQ: OLED) rose by 13% in December 2023, according to data from S&P Global Market Intelligence. The display technology expert's stock moves largely mirrored the broader market's gains and drops throughout the month, but at an amplified level.

No joke. It's actually hard to tell Universal Display's December chart apart from the S&P 500 index, apart from the fact that Universal gained 13% and the popular market index stopped at 4.4%. The statistical correlation between the two lines only increased as the days went by: