Why Innodata Stock Skyrocketed 149% in May
Innodata (NASDAQ: INOD) was one of several AI stocks to soar last month as the data-labeling specialist nearly doubled following its first-quarter earnings report early in the month, and the stock added on some gains from there.
Sentiment toward AI stocks has shifted dramatically from six months ago, when fears of a bubble were weighing on the sector. With bottlenecks now abounding, investors seem to think that a small-cap AI services stock like Innodata.
According to data from S&P Global Market Intelligence, the stock finished the month up 149%. As you can see from the chart below, it shot up following the first-quarter earnings report and tacked on more gains at the end of the month.
Source Fool.com
Innodata Inc. Stock
€62.00
2.990%
Innodata Inc. is currently one of the favorites of our community with 13 Buy predictions and no Sell predictions.
With a target price of 94 € there is a hugely positive potential of 51.61% for Innodata Inc. compared to the current price of 62.0 €.
