Why New Relic Stock Jumped 13.9% on Friday
Shares of New Relic (NYSE: NEWR), a software-as-a-service company that specializes in application performance management, jumped 13.9% on Friday. It was a quiet day on the news front for the business, so the jump is likely linked to the huge stock market rally.
The major U.S. stock market indices have been in free-fall over the last few weeks as the health and economic fallout of the COVID-19 pandemic continues to grow. Few stocks have been able to sidestep the carnage, and highly valued growth stocks such as New Relic have been hit particularly hard.
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Source Fool.com
