Artificial intelligence powered marketing technology company Inuvo Inc (NYSEAMERICAN:INUV) has emerged as a notable gainer over the past week and has gone up by 19% during the period. It should be noted that there has been no news about the company in recent days and hence, investors might need look into the recent past about a major development regarding Inuvo.
Earlier on this month the company announced that it expanded its services into Canada by expanding its InterKey AI platform to the country. It should be noted that Inuvo primarily works with agencies and brands and now with the expansion into Canada, the advertisers in the country will be able to use the technology on offer from the company.
The Chief Executive Officer of the company Rich Howe spoke about the development as well. He said that its platform could open up considerable value for advertisers in Canada. He went on to state that Inuvo can not only take care of the domestic market but also the American market if there is any such need. Last month the company announced its financial results for the first quarter and reported revenues of $10.6 million, which reflected a decline from the $14.9 million it had generated in the prior year period.
Market Reaction:
As of 12:19, INUV stock jumped 2.80% to $0.8840 with more than 1.34 million shares, compared to its average volume of 1.96 million shares. The stock has moved within a range of $ 0.8650 – 0.9100 after opening the trade at $0.88. Over the past 52-week, the stock has been trading within a range of $0.3100 – 2.3500.
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