The latest news out of Appen is that it has successfully completed its $285 million institutional placement at an offer price of $21.50 to facilitate the acquisition of Figure Eight Technologies Inc.
Appen's share price has continued its impressive rise today, surging another 18.82%, to trade at $22.35 per share. The price marks the company’s all-time high.
Around this time of year, I look back at the best stocks of the last 12 months. They reveal a lot about how the biggest trends develop. This helps me develop strategies to trade them.
Appen Ltd [ASX:APX] has been one of the hottest stocks this year. The stock now trades for more than 43-times earnings. Could the stock climb even higher on the back of the company’s most recent acquisition?