Why Alteryx Jumped 10.6% in June
Shares of data analytics company Alteryx (NYSE: AYX) were up 10.6% in June, according to data provided by S&P Global Market Intelligence. There was no material news released by Alteryx this month, so it is likely the stock was rising in conjunction with the resurgence of growth stocks in June.
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Alteryx did not release an earnings report last month, so it is tough to identify any fundamental reason why the stock went up over 10% during the period. However, over the past month growth stocks (with which Alteryx typically gets grouped) have beaten the S&P 500 index by over 4%. This broad market move is the best candidate for Alteryx's June price performance. The company did announce a partnership with accounting and consulting firm KPMG and signed a contract with McLaren racing, but outside of those two developments, nothing much happened with Alteryx in June.
Source Fool.com
