The market is as bullish on Instructure (INST) as its new CEO Dan Goldsmith, apparently.
Shares of the educational technology firm are still soaring after the announcement of a new CEO and a beat on top and bottom line earnings results.
"When it comes to Instructure's future, I could not be more bullish," Goldsmith said during the earnings call on Monday evening, Oct. 30.
The stock rose over 15% following the earnings call and is sustaining a rally into Wednesday, nearly erasing a month's long slide.
"The big announcement was that Dan Goldsmith, who was hired as President in May, will take over as CEO effective January 1st, 2019, while current CEO Josh Coates will become Executive Chairman of the Board," D.A. Davidson analyst Rishi Jaluria said. "We We appreciate Mr. Goldsmith's long tenure at Veeva Systems (VEEV) and believe he will help Instructure's motion to become a true multi-product company."
The company's quick turnaround from a nearly 30% slide headed into its earnings call on Monday has swiftly rebounded to about a 20% rally in a matter of days.
Prior to the earnings call on Monday night, Real Money's Kevin Curran sat down with the two executives for an exclusive interview to get their thoughts on the current state of tech that had hurt companies like theirs and what leaders need to look at to kick-start a rally like the one they've seen in just a few days.