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Dow Jones Newswires

June 24, 2021, 9:54 p.m. EDT

Marin Software soars 105%, volume tops 195 million shares

By Josh Beckerman

Marin Software Inc. shares surged 105% to $3.51 during the regular session Thursday following the Wednesday afternoon announcement that the company’s MarinOne platform is now able to manage Instacart Ads.

Volume was more than 195 million shares, compared with a 65-day average of 3.56 million.

Shares were recently at $3.09 after hours.

Marin (NAS:MRIN) said its technology helps brands use Instacart advertising services like the Featured Product offering. The company said MarinOne “unifies lower-funnel Instacart advertising with paid search and paid social campaigns to help generate additional demand.”

In May, Marin said first-quarter revenue fell 27% to $6.3 million, and it projected $5.5 million to $6 for the second quarter.

Link to MarketWatch's Slice.