Inuvo (NYSEAMERICAN:INUV) stock is on the rise Wednesday and we have everything investors need to know about the artificial intelligence (AI) company.
- To start off with, the recent increase in shares comes after the company announced new direct offerings of INUV stock.
- The first offering was announced last Thursday and just closed up on Tuesday.
- This saw the company sell 13,333,334 shares of its stock for 60 cents each to raise $8 million.
- Then, just today, the company announced another direct offering for INUV stock.
- This has it selling 5,681,817 shares at $1.10 each to raise a total of $6.25 million.
- That direct offering is set to close on Friday.
- Inuvo is an AI company that makes use of machine learning to offer ad campaigns to customers.
- Its IntentKey platform is able to associate “ideas, emotions, places, people and objects” in a way similar to the human brain.
- This allows the company to better target possible customers that might be missed with a normal ad campaign.
- Inuvo was founded in October 1987 and went public the following year in August.
- The company is led by Richard Howe, who joined its Board of Directors in 2008.
- Howe has plenty of experience in marketing having previously worked for Axciom Corporation (NASDAQ:ACXM) and other marketing companies.
- Inuvo’s current market capitalization is sitting at $222.93 million.
INUV stock was up 45.2% as of Wednesday morning and is up 348.9% since the start of the year.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.