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Why Velti Shares Jumped

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of mobile advertiser Velti (Nasdaq: VELT  ) jumped today by as much as 16% after the company announced that it closed a major ad deal.

So what: Velti said it closed a $27 million deal that spans over two years for "a major U.S. brand." The advertising program will start within a matter of weeks and aims to boost engagement and loyalty within the brand's current customer base.

Now what: This is Velti's largest-ever mobile marketing deal, so it's no surprise that investors are jumping with joy. CEO Alex Moukas called it "emblematic of the significant traction" the company is seeing in the U.S. for its offerings that use data to drive engagement. For some context, last quarter saw total sales of $58.7 million, so this deal is certainly a big one.

Interested in more info on Velti? Add it to your Watchlist by clicking here.

Fool contributor Evan Niu holds no position in any company mentioned. Check out his holdings and a short bio. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days. The Motley Fool has a disclosure policy.

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Related Tickers

10/28/2016 12:22 PM
VELTF $0.00 Down +0.00 -11.70%
Velti plc CAPS Rating: ****