Cloud based marketing technology software company Bridgeline Digital Inc (NASDAQ:BLIN) is in action this morning and the stock has managed to clock gains of as much as 40% so far. The rally was triggered after the company announced this morning as many as 20 site search licenses were won by its partner network for HawkSearch and Celebros.
Celebros and HawkSearch are two of the latest acquisitions that have been made by Bridgeline. It is a major development for the company since it is trying to expand its partner network considerably in 2021. As a matter of fact, Ari Kahn, the Chief Executive Officer of Bridgeline said as much and noted that it is the ‘key initiative’ this year.
He went on to state that the company has managed to make steady progress in this direction by winning license sales for prominent institution and governments. In addition to that, Kahn also stated that it managed to win all those licenses primarily because of the expansion of the network. At this point in time, some of the major partners that Bridgeline boasts of include SAP, AmericanEagle, Magento, Salesforce and Shopify among others. It remains to be seen if the stock can continue to add to its gains through the rest of the week.
Market Action:
As of 12:10, BLIN stock soared 40% at $6.04 The stock has traded 51.76 million shares, compared to its average volume of 2.28 million shares. The stock opened at $6.14 and moved in a range of $5.67 – 6.78.
 Stock Soars 160% This Week: Here is Why){kind=link}