Shares of Amplitude (NASDAQ:AMPL) were among the winners last month as the data analytics software stock benefited from a broader rotation out of AI infrastructure stocks into undervalued stocks like Amplitude, and it also got a number of positive analyst notes during the month. Though there was no major company-specific news out on Amplitude, those factors were enough to push the stock up 23% by the end of the month, according to data from S&P Global Market Intelligence. As you can see from the chart below, Amplitude stock soared over a few days starting on Oct. 20 as investors fretted about AI infrastructure spending and as interest rates started to come down.
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