The New York Times Company (NYSE:NYT) Shares Surged 8%

The New York Times Company (NYSE:NYT) shares added more than 8% after the publisher of The New York Times newspaper revealed that it added 210,000 digital-only subscribers in the third quarter, bringing its total subscriber count to more than 10 million.

The mass media company said higher digital subscribers and average revenue per user drove a 15.7% year-over-year growth in subscription revenues from digital products to $282.2 million.

The New York Times Company (NYSE:NYT) shares added more than 8% after the publisher of The New York Times newspaper revealed that it added 210,000 digital-only subscribers in the third quarter, bringing its total subscriber count to more than 10 million.

The mass media company said higher digital subscribers and average revenue per user drove a 15.7% year-over-year growth in subscription revenues from digital products to $282.2 million.

Price Momentum
NYT is trading near the top of its 52-week range and above its 200-day simple moving average.

What does this mean?
Investors have been pushing the share price higher, and the stock still appears to have upward momentum. This is a positive sign for the stock's future value.