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Why Concrete Pumping Holdings Rocketed Over 30% Today On a Brutal Day For The Markets
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Concrete Pumping Holdings (NASDAQ: BBCP) rocketed 31.5% on Friday as of 2:00 p.m. EDT, despite most stocks getting absolutely hammered today, based on inflation and interest rate fears.This small-cap construction stock reported its fiscal second-quarter earnings last night. Concrete Pumping does just what its name implies: pump concrete for construction projects. In addition to its core construction business, Concrete Pumping offers a waste management service tied to its construction projects and has a smaller operation in the United Kingdom. While overall construction remains somewhat subdued, the booming AI data center and chip fabrication plant segments of the market were enough to propel Concrete Pumping to mid-teens growth, ahead of expectations. At the same time, management also revealed that this AI-related segment now accounts for a larger share of the business.Continue readingWeiter zum vollständigen Artikel bei MotleyFool
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Quelle: MotleyFool