Liberated Syndication Inc (OTCMKTS:LSYN ) is the biggest operator from among podcast hosting platforms space and also the advertising marketplace, but yesterday the stock was trading within a range despite a key announcement. In this situation, it may be a good idea for investors to take a look at the announcement and then make up their minds about the stock one way or another.
Market Action
On Tuesday, LSYN stock ended flat at $3.45 with 1 shares, compared to its average volume of 4K shares. The stock moved within a range of $3.4500 – 3.4500 after opening trade at $3.45.
Liberated Syndication Reports February 2022 Podcast Advertising Rates
Yesterday, the company made an announcement with regards to podcast advertising rates and it goes without saying that it was an important announcement from the company. The rates are denominated in cost per thousands and is published by podcast advertising marketplace named AdvertiseCast.
It emerged yesterday that the average CPM for a spot of the length of 1 minute was worth as much as $23.61. In this context, it ought to be noted that the Chief Revenues Officer of AdvertiseCast, Dave Hanley, noted that although the overall trend of advertising fees have been on the up, the trend had gone downward in the month of February. However, on a year on year basis, the average CPM for the month of February was actually up. It remains to be seen if this has any effect on the Liberated Syndication stock.
Key Quote
“While the podcast advertising industry continues to have a strong upward trajectory, February average rates were down from the Company’s all-time high in January. Even so, average rates for February were up year over year when compared to $22.19 in 2021,” said Dave Hanley, Chief Revenue Officer at AdvertiseCast. “We do see seasonality in demand and advertising rates historically in February.
 Stock Continues to Trade in a Narrow Range){kind=link}