Why DigitalOcean Holdings Stock Jumped Today

Shares of DigitalOcean Holdings (NYSE: DOCN), a cloud computing platform company, spiked today after the company received a bullish report from Citron Research. Citron's report makes some comparisons between DigitalOcean and Shopify and Square, saying the cloud computing company has similar opportunities with small and medium-sized businesses (SMBs) that the other two companies have had. "We've seen this movie before and just like how Shopify and Square saw that SMBs were not far behind large enterprises in adopting e-commerce and digital payments, DigitalOcean is in the leading position to capitalize on this mega trend," the Citron report said.