Shares of Infinera (NASDAQ: INFN) rose 20.4% in February 2017, according to data from S&P Global Market Intelligence.
The maker of equipment for long-distance optical networking equipment posted fourth-quarter results on February 9 that exceeded Wall Street’s estimates, landing at the high end of management’s own guidance targets.
Share prices skyrocketed more than 27% overnight and continued to rise as analysts and investors digested the report over the next few days. By the end of February 15, Infinera shares had gained 37% since the start of the month. The stock cooled down a bit after that sudden surge, but still held on to a 20% gain at the end of February.