Marketing and enterprise company Marin Software (NASDAQ:MRIN) is surely seeing stars this morning. MRIN stock is up by more than 25% today after announcing an eye-catching new deal with Amazon (NASDAQ:AMZN).
What do you need to know about this latest partnership making investors cheer?
Marin, best known for its optimized advertising management system, announced a new integration with Amazon Ads’ demand-side platform (DSP). The partnership will allow companies to manage, measure and improve their Amazon advertising campaigns directly from the MarinOne platform. Since 2007, Marin has managed more than $40 billion in digital advertising spending. That makes it a legacy platform in the industry.
Despite the news, AMZN stock has been mostly stagnant today, currently down less than a percent. Still, what do investors think about this latest power play from Marin and Amazon?
MRIN Stock Set to Rebound on New Partnership
Amazon DSP facilitates cross-site consumer engagements with a variety of advertising formats, allowing brands to cherry-pick where, how and for whom they place ads. It’s a powerful tool that assists thousands of companies in reaching consumers that may have otherwise fallen under the radar. Amazon DSP is able to reach more than 148 million monthly users.
Chris Lien, CEO of Marin, had some kind words about Amazon and the new collaboration.
“Amazon is great for the success of Retail brands […] By integrating with Amazon DSP, we can now offer our customers access to a broad new set of formats, placements, and audiences to further their Amazon programs and deliver more return on investment within their eCommerce ad spend.”
Marin investors are sure to be celebrating the news today, given the powerful effect on its share price. MRIN has been publicly traded since 2013, but has generally seen a progressive decline in stock value, even aside from its 2017 stock split. From its initial $100-plus price tag, the stock has gone as low as $1.34 per share in the past 52 weeks.
Not today, however. MRIN stock is up over the $4.30 mark heading into mid-day. Plus, it could see further gains before market close as investors continue to review it as one of the top gainers today.
On the date of publication, Shrey Dua did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.