Stock of Kinaxis, TSX:KXS Jumped 14% Last week
Kinaxis (TSX:KXS) is an Ottawa-based company that provides cloud-based subscription software for supply chain operations in Canada, the United States, and around the world. Today, I want to discuss why this tech stock has gained momentum in late June. Is it worth snatching up in the early part of the summer? Letâs jump in.
How has this tech stock performed so far in 2022?
Shares of Kinaxis have shot up 14% week over week as of close on June 24. North American markets enjoyed a significant rebound after a brutal stretch in the previous week. Despite its recent bump, this tech stock is still down 15% so far in 2022.
In the 2020 market correction, Kinaxis stood out, as it was able to defy the bear market — at least in the early stages. The COVID-19 pandemic sent off shockwaves for domestic and global supply chains. We are still feeling those effects today. That has put attention on this tech stock, as it offers a revolutionary software service in this space.
Last week, the com...