Why Avalara Stock Soared 132% in the First Half of 2019 [The Motley Fool]
Avalara, Inc. (AVLR)
Last avalara, inc. earnings: 2/12 04:10 pm
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Source: The Motley Fool
Why Avalara Stock Soared 132% in the First Half of 2019 Investing in this cloud company that went public in June 2018 has proved anything but taxing for investors. Avalara ( NYSE:AVLR ) stock rocketed 132% higher in the first half of the year, according to data from S&P Global Market Intelligence. The S&P 500 returned 18.4% over this period. Shares of the cloud-based transaction tax compliance solutions provider have continued to climb in July, bringing their gain to 169% in 2019 through Thursday, July 11. The broader market has returned 21% so far this year. (Transaction taxes are things such as sales, value-added, and excise taxes.) Avalara stock -- which sports a market cap of $5.9 billion -- is up 249% since the company's initial public offering (IPO) at $24 per share in June 2018. Like many stocks, Avalara has probably been getting a boost from the robust market. That said, we can attribute its outperformance in the first half of the year to investor enthusiasm stemming from th
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