MRIN Stock Alert: What’s Up With Red-Hot Marin Software Today?
Marketing and corporate business Marine software (NASDAQ:MRIN) surely sees stars this morning. MRIN stock is up more than 25% today after the announcement of a new eye-catching deal with Amazon (NASDAQ:AMZN).
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What do you need to know about this latest partnership that is making investors happy?
Marin, best known for its optimized ad management system, announced a new integration with Amazon Ads’ demand side platform (DSP). The partnership will allow companies to manage, measure and improve their Amazon advertising campaigns directly from the MarinOne platform. Since 2007, Marin has managed more than $ 40 billion in digital ad spend. This makes it a legacy platform from the industry.
Despite the news, AMZN stock was mostly flat today, currently down less than one percent. Yet what do investors think of this latest power play from Marin and Amazon?
MRIN share set to rebound thanks to a new partnership
Amazon DSP facilitates consumer-to-site engagement with a variety of ad formats, allowing brands to choose where, how, and for whom to place ads. It’s a powerful tool that helps thousands of businesses reach consumers who would otherwise go unnoticed. Amazon DSP is capable of reaching over 148 million monthly users.
Chris Lien, CEO of Marin, had kind words about Amazon and the new collaboration.
“Amazon is great for the success of retail brands […] By integrating with Amazon DSP, we can now offer our customers access to a new set of formats, placements and audiences to advance their Amazon programs and deliver a better return on investment in their ecommerce ad spend. .
Marin investors are sure to celebrate the news today, given the powerful effect on its share price. MRIN has been listed on the stock exchange since 2013, but has generally experienced a gradual decline in its stock value, even outside of its stock split in 2017. Starting from its initial price of over $ 100, the stock is fell to $ 1.34 per share over the past 52 weeks.
Not today, however. MRIN stock is up above the $ 4.30 mark before midday. Additionally, it could post further gains before the market closes as investors continue to view it as one of the top winners today.
As of the publication date, Shrey Dua does not have (directly or indirectly) any position in any of the stocks mentioned in this article. The opinions expressed in this article are those of the author, subject to the publication guidelines of InvestorPlace.com.