Why Angi Stock Jumped 19% This Week

Why Angi Stock Jumped 19% This Week
·2 min read

Shares of Angi (NASDAQ: ANGI) were climbing this week after the home-services marketplace posted impressive numbers in its key metrics report for August. The major catalyst for the week's gains was an update showing Angi's monthly revenue grew at its fastest pace since August, a promising sign that momentum is building as its 21% growth in August comes on top of 12% growth in August 2020. Angi's marketplace, its biggest business segment, posted top-line growth of 24%, and revenue from Angi Services -- the fast-growing, pre-paid product that automatically books jobs for homeowners -- saw its sales jump 165% following 170% growth in July, indicating a strong performance for the third quarter as a whole.

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