Why Monday.com Stock Was Up 71% in August
Shares of Monday.com (NASDAQ: MNDY) were up a whopping 71.4% in August, according to data provided by S&P Global Market Intelligence. The company reported stellar financial results on Aug. 17, providing much of the month's outperformance. However, to contextualize this 71% jump, we may need to look at who owns this stock.
Monday.com is a cloud-based project-management software company, specializing in no-code and low-code applications, which makes it easy to use. The company just went public in June, dividing the company into almost 44 million shares. However, almost 81% of shares were still held by insiders and early investors. The company only offered 3.7 million shares to the general public, and there are only 7.5 million shares available for trading, according to MarketWatch.
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Source Fool.com
