Why MakeMyTrip Stock Is Skyrocketing Today
MakeMyTrip beat Wall Street's Q1 earnings target, but that's not the only reason the stock is rising today.
Overview
MakeMyTrip (NASDAQ: MMYT) stock is quickly gaining ground following its latest earnings report. The India-based travel company's share price was up 9.3% as of noon ET on Tuesday. Meanwhile, the S&P 500 was up 1.2%, and the Nasdaq Composite was up 1.8%. Earlier in the session, the stock had been up as much as 14.1%.
Before the market opened this morning, MakeMyTrip published results for the first quarter of its 2027 fiscal year -- which ended June 30. While the company posted sales that missed expectations, its earnings topped Wall Street's forecast. The stock is also getting a boost from another significant bullish catalyst.
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Originally published at www.fool.com.