Why Broadcom Stock Jumped 15% in April
Shares of Broadcom (NASDAQ: AVGO) were bucking the broader trend in the market last month as a well-timed buyback announcement, generally positive analyst research, and a new product announcement lifted the stock.According to data from S&P Global Market Intelligence, the stock finished the month up 15%.As you can see from the chart below, Broadcom got a lift from the share buyback announcement at the beginning of the month and then tracked similarly to the S&P 500 for the duration of April but with greater upside.Continue reading
Shares of Broadcom (NASDAQ: AVGO) were bucking the broader trend in the market last month as a well-timed buyback announcement, generally positive analyst research, and a new product announcement lifted the stock.
According to data from S&P Global Market Intelligence, the stock finished the month up 15%.
As you can see from the chart below, Broadcom got a lift from the share buyback announcement at the beginning of the month and then tracked similarly to the S&P 500 for the duration of April but with greater upside.
