Why Wix Stock Soared 70% in May

Shares of Wix.com (NASDAQ: WIX) rocketed 70% higher last month, according to data from S&P Global Market Intelligence, after the website building platform delivered strong first-quarter results.

Wix's revenue rose 24% year over year to $216 million. Its free cash flow, meanwhile, climbed 33% to $40 million.

Notably, Wix's registered user base grew 16% to 172 million, while the total number of its premium subscriptions increased by 12%, to 4.7 million.

Source Fool.com