Zinger Key Points
- Shares of Oracle rise over 2% on Tuesday.
- The move marks a continuation in the stock's uptrend which began in January.
Oracle Corporation ORCL shares are trading higher on Tuesday. The stock pushed higher on the upward momentum it made during January.
What To Know: Prior to Oracle stock's January uptrend, shares had taken a steep crash in mid-December, giving up all of the gains made in November.
The crash was attributed to mixed second-quarter financial results reported by the company.
During the remainder of December, shares attempted to rebound but were pushed back down as the new year began. However, the stock has managed to trend steadily higher in January.
The company has attained several achievements during the month, including recognition by Gartner as Leader in the 2023 Gartner Magic Quadrant for Cloud Database Management Systems. Additionally, it was announced that Samsonite implemented the latest mobile Oracle Retail Xstore Point-of-Service systems throughout its stores in Europe.
On Tuesday, the company announced the general availability of the Oracle Cloud Infrastructure Generative AI service, including advancements that simplify the process for enterprises to leverage the most recent generative AI innovations.
The stock rose by over 2% as well and made an appearance on Stocktwits' Trending page.
Related Link: Why Wolfspeed Stock Rose Today
ORCL Price Action: Shares of Oracle were up 2.21% at $112.54 at the time of publication, according to Benzinga Pro.
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