Personalised guest engagement services provider Mobivity Holdings Corp (OTCMKTS:MFON) was on the radars of many investors yesterday following a key development and the company’s stock ended the day with gains of as much as 5% as well.
Market Action:
On Thursday, MFON stock surged 4.83% at $1.5200 with more than 14.87K shares, compared to its average volume of 9.32K shares. The stock has moved within a range of $1.4500 – 1.5200 after opening the trade at $1.4500.
Major Trigger
In this context, it should be noted that the company published its findings from the 2021 Restaurant Text Marketing Benchmarks Report and there were many interesting nuggets of information for anyone who might be interesting in the Mobivity stock. The report primarily deals with the effect of text messaging marketing programs on frequency of guests at an establishment, spending and also the return of investment generated by different establishments.
The company compiled the report after going through the data extracted from as many as 15 million subscribers and 500 million transactions between the years 2018 and 2021.
The company found that text messaging marketing helps in bringing in 44% more non-subscribers to establishments. That was a significant finding and something that must have come as a major positive for many investors. In this context, it is now important to keep an eye on the Mobivity stock and see if it can end the week strongly by adding to its gains today.
Traders Note:
MFON stock is trading below the 20-Day and 50-Day Moving averages of $1.55 and $1.58. The stock is up 2% in the past month.
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