Why Universal Display Stock Gained 12% in July
Universal Display (NASDAQ: OLED) stock outpaced the market last month by gaining 12% compared to a 1% uptick in the S&P 500, according to S&P Global Market Intelligence. The increase added to a banner year for shareholders in the glass display developer, with the stock having more than doubled so far in 2019.
Image source: Getty Images.
July's rally came as investors grew increasingly confident that Universal Display would have good news to report in its second-quarter results. The company didn't disappoint. On Aug. 1, executives revealed that sales jumped 110% thanks to strength across its material and licensing segments. Gross profit expanded even faster due to rising profit margins.
Source Fool.com
