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Why AXT Stock Jumped on Friday

TheMotleyFool

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Why AXT Stock Jumped on FridayPhoto, wide shot, wide-angle lens, Telecom equipment supplier, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.theapi.app/temp/3967c11c-b755-4d39-87d0-acc853384c80.png

Shares of AXT (NASDAQ: AXTI) surged on Friday. The manufacturer of compound semiconductor substrates posted an imressive fourth-quarter update, which featured rapid revenue growth and net income that more than doubled compared to the year-ago period.

A few analyst upgrades for the tech stock likely also helped the stock on Friday.

Image source: Getty Images.

Source Fool.com

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