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Here's Why 8x8 Stock Is Skyrocketing Today

TheMotleyFool

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Here's Why 8x8 Stock Is Skyrocketing TodayPhoto, wide shot, wide-angle lens, Cloud computing provider, sunset photo at golden hour, photo by Thomas Heaton: https://img.theapi.app/temp/8d7b6619-8b3b-4e9e-b659-68643d72528e.png

Shares of 8x8 (NYSE: EGHT), a cloud communications platform provider, spiked today after the company announced that Dave Sipes would be its new CEO.

The tech stock gained as much as 40.6% today and was up 32.6% as of 1:14 p.m. EST.

Sipes was most recently the chief operating officer at RingCentral, where he helped the company grow from $10 million in annual revenue to $1 billion.

Source Fool.com

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