Why Yalla Group Stock Continued Climbing Monday
From its late-September IPO debut to Nov. 9, shares of Arabic social networking company Yalla Group Limited (NYSE: YALA) climbed 54%, as investors bet big that Yalla's first-ever earnings report as a public company would be a blowout. That's not how things played out, however, when the earnings news finally arrived, and Yalla reported its big net loss.
From earnings day on Nov. 9 to last Monday, shares of the company lost 25% of their value. Its stock price resumed climbing again last week, however, and on Monday that upwards trend gained greater strength, with Yalla stock up another 4.8% in 1:15 p.m. EST trading.
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Source Fool.com