Why Wix Stock Soared 41% Higher in February
Shares of Wix.com (NASDAQ: WIX) soared 41.1% higher in February, according to data provided by S&P Global Market Intelligence. The stock rose modestly until the middle of the month when it reported quarterly financial results. After that positive report, Wix exploded higher.
Wix's revenue for 2020 was up 30% year over year to $989 million. The company has a range of products and services that support small businesses and individuals in building an online presence -- something that was pushed forward because of the pandemic. But the company's growth rate accelerated even through the end of the year, with fourth-quarter revenue growth of 38%.
Image source: Getty Images.
Source Fool.com
