What happened

Shares of Fiverr International (FVRR 0.24%) gained 15.2% in September 2020, according to data from S&P Global Market Intelligence. The gains hinged on a well-received launch of a marketing campaign for the Fiverr brand itself.

So what

The freelancing marketplace started a new branding campaign on September 8, unlocking a 16% share-price jump in two days. Under the banner of "It Starts Here," the campaign highlights three small businesses that have used Fiverr's freelancers to find success in a difficult COVID-19 market environment. The program is supported by short-form video spots across social media services, media-streaming channels, and national TV ads. Fiverr also adopted a new logo and other visual representations of the brand, all of which were embraced by investors and Fiverr users alike.

A digital rocket icon takes off from an outstretched hand.

Image source: Getty Images.

Now what

The company also introduced Fiverr Business in September, but the launch of a team-based collaboration platform hardly moved the stock price at all. This project may be more important than the branding campaign in the long run, but that's not how Mr. Market saw it in September.

All told, Fiverr's investors have pocketed a 572% gain in 2020. Wall Street is struggling to find a proper valuation for this high-octane growth stock whose second-quarter sales increased by 82% year over year, while generally accepted accounting principles (GAAP) earnings were written in red ink. You should expect Fiverr's stock to show plenty of volatility over the next few years as the company continues to optimize its business plan for maximal top-line growth, leaving sustainable profits for some later period several years down the road.