On July 31, DigitalOcean Holdings, Inc. rose 5.28% in regular trading, trading at $121.12/share, with turnover of $78.71 million.

On the news front, the stock extended its technical rebound after falling over 15% to around $107 in preceding sessions due to the completion of approximately $472 million in convertible senior note repurchases and the issuance of roughly 12.5 million new shares at $117.54 per share, which raised dilution concerns. With short-term selling pressure largely exhausted, buyers have returned.

Supporting the rebound, UBS noted that the company's preliminary Q2 results came in better than expected, and its Richmond data center is now running near full capacity. The company previously disclosed it expects Q2 revenue growth of approximately 29% year over year, with remaining performance obligations projected to exceed $800 million, representing more than a ten-fold increase from the prior year. Multiple nine-figure annual customer commitments for AI inference and cloud products were also signed during the quarter. The company is scheduled to report full Q2 earnings on August 4 before market open.

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