Marin Software soars, trading volume exceeds 17x share count

Marin Software

24/06/2021 22:41

(Updates prices and trading volume)
    ** Digital marketing software provider Marin Software
 MRIN.O  was the most actively traded stock by volume on U.S.
exchanges on Thurs, with 192 mln shares traded for a company
with just 10.97 mln shares outstanding according to Refinitiv
    ** MRIN's advance also stood out with a 105% gain for a
session close of $3.51. After ending Wed's session with a market
cap of $18.75 mln, Marin's valuation rose to $38.5 mln
    ** Traders exchanged $581 mln of its shares Thur
    ** MRIN was the latest stock to garner attention from retail
traders on social media who have bid up shares in a group of
heavily shorted U.S.-listed companies this year, including video
game retailer GameStop Corp  GME.N  and cinema operator AMC
Entertainment Holdings Inc  AMC.N 
    ** Although MRIN had short interest of only 1.92% of free
float as of May 28 - per Refinitiv data - it attracted attention
on forums such as Stocktwits, a trading-focused website, and
Twitter. 
    ** MRIN said on Tues its MarinOne platform was now able to
manage Instacart ads, helping boost customer demand by allowing
marketers to combine Instacart ads with other marketing
campaigns in one place (https://bit.ly/3xPQ2pa)
    ** MRIN hit a high of $139.65 per share in its 2013 IPO;
stock has fallen every year except 2020 and so far in 2021 it is
up 73.8% YTD 
        
    

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Marin Software share price since IPO    https://tmsnrt.rs/3jd6yeS
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 (Reporting by Sagarika Jaisinghani)
 ((sagarika.jaisinghani@thomsonreuters.com;))