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Why ACM Research Stock Jumped 22% in November

TheMotleyFool

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Why ACM Research Stock Jumped 22% in NovemberPhoto, wide shot, wide-angle lens, Artificial intelligence developer, sunset photo at golden hour, photo by Art Wolfe: https://img.theapi.app/temp/12e2798a-1095-4653-8f49-2a7aee633b4e.png

Shares of ACM Research (NASDAQ: ACMR) were gaining last month as the company known for making equipment that cleans semiconductor wafers posted solid results in its third-quarter earnings report and benefited from a broader rebound in the stock market and in chip stocks.

According to data from S&P Global Market Intelligence, the stock finished the month up 22%. As the chart below shows, the stock outperformed both the S&P 500 and a popular semiconductor exchange traded fund (ETF), though it benefited from the rising tide in both investments.