Shares of freelance services specialist Fiverr (NYSE:FVRR) gained 36.8% in November, according to data from S&P Global Market Intelligence. It was a rocky ride, with both the ups and the downs powered by developments in the ongoing COVID-19 pandemic.
Fiverr shares rose and fell by double-digit percentages on several occasions last month. In every case, the move was motivated by positive or negative coronavirus news. When vaccine candidates moved closer to public release, Fiverr's stock took a haircut. When the number of new infections increased, Fiverr investors pocketed some profits. That's life when your business is poised to benefit from a longer and darker coronavirus crisis.
At the end of the global health crisis, we should find that Fiverr's long-term growth was accelerated by the pandemic. The red-hot growth of 2020 will cool down again but the company has claimed a long-lasting slice of the emerging gig economy. The Fiverr name will stick around for years to come.
That's not a controversial analysis, of course. Plenty of Fiverr investors have arrived at similar conclusions, driving the stock 753% higher year to date. You may need some patience to deal with this volatile ticker over the next few years, but we growth investors live for this stuff.