Several events became the driving force behind the stock of ANGI Homeservices (ANGI). As of April 13, ANGI shares were selling for $17. 02, thus gaining 12.04%. Stock volume increased to 4.85 million shares, which exceeded the daily average of 2.19 million shares over the past 50 days. Shares of ANGI have gained 189.79% in the past year, and they have gained 17.54% in the past week. Over the past three months, the stock has gained 42.23%, while it has gained 50.53% over the past six months. The company’s current market value is $8.68 billion, and its outstanding shares stand at 499.91 million.
One of the conference’s main announcements was the partnership between ANGI and Savvy, a business service that caters to the needs of renters and homeowners. Angi Handy customers now have the option of ordering a full range of consumer services, such as TV installation, furniture assembly, CCTV installation, and much more, via the website. A steady cash flow of this kind attracts new users to the ANGI ecosystem.
Also contributing to its performance was the release of positive statistics by InterActiveCorp, ANGI’s largest shareholder. The increase in service requests and revenues year over year was 60 % in March 2021 (as published). Since the US economy has traditionally been weak during this time of year, ANGI had a strong month. Most of the year-over-year growth was caused by a decline in performance after COVID-19 in March last year.
Despite this, ANGI investors reported good news this week. The company has continued to expand its product range and could gain further traction as Americans demand more spacious homes and telecommuting housing.
As you likely recall, ANGI Homeservices came about after the merger between Angie’s List, a guide to construction and improvement services, and the HomeAdvisor site, a website for finding repair and construction services. Consumers have access to a comprehensive directory of contractors. Revenue comes primarily from commissions on payments for services.