Why EPAM Systems Jumped 43% in March
Shares of EPAM Systems (NYSE: EPAM), a tech company that provides services like product development and digital platform engineering, were rebounding in March after a sharp sell-off in February in the wake of Russia's invasion of Ukraine. About half of EPAM's employees were located in Ukraine, Belarus, and Russia, making the company particularly vulnerable to the conflict, and management pulled its guidance at the end of February due to the impact. The stock fell nearly 50% in one day when EPAM made the announcement.
However, the stock recovered some of those losses in March as tech stocks started to rebound in the second half of the month and investors were hopeful that there could soon be a resolution to the war.
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Source Fool.com
