Why Wix Stock Was Up Nearly 14% in April
Shares of Wix.com (NASDAQ: WIX) were up 13.8% in April, according to data provided by S&P Global Market Intelligence. Most of the stock's upward move came later in the month, although it's unclear what the catalyst was. The company did have news, but not news that adequately explains why it was an outperformer during the month.
On April 20, Wix announced a brand-new product called Spaces by Wix. This mobile product is designed to turn a business website into an app experience, and it does sound like an important product considering how much business takes place on our phones these days. But that doesn't seem to account for the stock's 14% gain last month. Indeed, Wix frequently launches new products like this to meet its customers' evolving needs, so the market should be used to it.
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Source Fool.com
