Why Shares of Bill.com Jumped 19.8% in August
In a down month for the stock market, Bill.com Holdings (NYSE: BILL) bucked the trend, rising 19.8% in August, according to S&P Global Market Intelligence.
The cloud-based financial software company beat the S&P 500, which was down 4.2% in August. The Dow Jones Industrial Average (-4.1%) and the Nasdaq Composite (-4.6%) were also down last month. Bill.com's stock price is still down 40% year to date as of Sept. 6, trading at around $149 per share.
Bill.com got a huge boost in August from its excellent fiscal fourth-quarter earnings report, released on Aug. 18. The company beat earnings and revenue estimates, and the stock price soared about 17% on release day, representing the bulk of the stock's gain for the month.
Source Fool.com
