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Why Ontrak Stock Skyrocketed 91% Last Month

TheMotleyFool

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Why Ontrak Stock Skyrocketed 91% Last Month

Shares of Ontrak (NASDAQ: OTRK) were surging last month after the telehealth services provider posted a blowout second-quarter earnings report and continued to ride a bullish trend in the telehealth industry, which has boomed during the pandemic. According to data from S&P Global Market Intelligence, the stock finished August up 91%.

As you can see from the chart below, much of the gains came early in the month following the earnings report, though the stock remained volatile through August.