Why is Marin Software (NASDAQ:MRIN) stock Soared 1320% in 2-Week?

The remarkable rally in the Marin Software (NASDAQ:MRIN) stock that commenced around two weeks ago has continued this morning as the stock went up by 51%.

The latest rally has taken the gains made by the stock over the past two weeks to 1320% and hence, it could be a good idea to look into the key development that led to the rally. Recently the company announced that its advertisement management platform is going to offer customers the option to add Instacart Ad. This development is going to make it easier to connect directly to customers at the point of sale.

This is a massive development considering the sheer size of the business of Instacart. The company runs one of the biggest online grocery operations in the United States and offers its customers items from as many as 55000 stores spread across the United States and Canada.

The company stated that integration is going to help them in utilising the $40 billion that is spent on online advertising. The integration will allow advertisers to suggest customers goods and services that are closely related to the products that they might be in the process of buying. It remains to be seen if the stock can add to its gains through the rest of the day.

Market Action:

As of 10:29, MRIN stock is up 28.50% to $19.40 with more than 67.74 million shares, compared to its average volume of 18.67 million shares. The stock has moved within a range of $18.88 – 25.60 after opening the trade at $21.48. The stock made a new high of $25.60 in today’s trading session.