As another trading day begins, it is time for investors to perhaps take a look at some of the stocks which had performed strongly on Monday and one of those was the Lightspeed Commerce (TSE:LSPD) stock.
Trading Data
On Monday, LSPD stock went up 11.82% to C$41.26 with more than 1.34 million shares, compared to its average volume of 1.04 million shares. The stock has moved within a range of C$37.41 – 41.31 after opening trade at $38.
Major Trigger
The stock was in the middle of a sustained rally yesterday and soared by as much as 12% after the company made a series of announcements. The company announced yesterday that it was going to announce its financial results for the third fiscal quarter of 2022 on February 2. It is now going to be interesting to see if the Lightspeed stock manages to get any tracking in the lead up to the big day.
However, that was not the only piece of news that had resulted in the rally in the stock yesterday. It should be noted that last week Lightspeed had announced that its Lightspeed Restaurant platform which is described as a ‘one stop commerce platform’ is going to be expanded further. The move has been made by the company after its American customers managed to perform better than users in other markets. It may be a good move to add the stock to your watch lists today.
Technical Data
LSPD stock is trading below the 20-Day and 50-Day Moving averages of C$42.84 and C$53.11 respectively. Moreover, the stock is trading below the 200-Day moving average of C$94.08. The stock is up 8% in the past week.
