What Is Going on With Marin Software (MRIN) Stock Today?

  • Marin Software (MRIN) stock is soaring 25% in pre-market trading.
  • The company disclosed that its flagship product had been integrated with Snapchat.
  • MRIN appears to have — at least temporarily — regained its former status as a meme stock.
MRIN stock - What Is Going on With Marin Software (MRIN) Stock Today?

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Marin Software (NASDAQ:MRIN) stock is soaring 25% in pre-market trading after the company late yesterday disclosed that its “flagship” product now enables marketers to “optimize Snapchat ad campaigns.”

A fairly popular meme stock in 2021, Marin’s luster had worn off this year. But the surge of MRIN stock today indicates that the name is becoming in vogue again among meme-stock traders.

As a result of the integration of Marin’s software with Snap’s (NYSE:SNAP) Snapchat, “advertisers” that utilize Marin’s MarinOne platform in conjunction with Snapchat will have “better insights.” Additionally, these marketers will be able to enhance the effectiveness of their Snapchat initiatives with artificial intelligence, according to Marin.

Further explaining the capabilities that MarinOne  gives Snapchat advertisers, Marin reported that: “The MarinOne platform unifies leading AI bidding, budget pacing, forecasting, performance insights and recommendations to help advertisers maximize the reach and impact of their Snapchat marketing investment.”

More About Marin

Back in January, Marin announced a deal with Amazon (NASDAQ:AMZN) that’s similar to the one that it unveiled with Snap today, InvestorPlace Assistant News Writer Shrey Dua noted at the time. Specifically, Marin stated that MarinOne would be able to interface “with Amazon Ads’ demand-side platform.”

Despite the partnership with Amazon, MRIN stock has tumbled 53% so far in 2022. Moreover, the shares, which began trading at $100+ when they debuted in 2013, are changing hands for slightly over $2 this morning, even after they were boosted by today’s news.

MRIN Stock in 2021 and Today

A little over a year ago, I wrote a very bearish column on Marin. “Given Marin Software’s lack of revenue growth and high losses, along with the absence of strong, concrete growth catalysts for it, investors should sell MRIN stock,” I stated at the time.

I also predicted — correctly as it turned out — that meme stocks, in general, would weaken over the longer term, dragging down Marin’s shares.

Despite the news announced by Marin today, the longer-term outlook of MRIN stock remains uninspiring,  as the company’s top line results remain anemic and it continues to face steep competition.

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On the date of publication, Larry Ramer 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.

Larry Ramer has conducted research and written articles on U.S. stocks for 15 years. He has been employed by The Fly and Israel’s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been PLUG, XOM and solar stocks. You can reach him on Stocktwits at @larryramer.

Article printed from InvestorPlace Media, https://investorplace.com/2022/08/what-is-going-on-with-marin-software-mrin-stock-today/.

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