The rise in trading volume of new retail-investor favorite Marin Software Inc. (NASDAQ: MRIN) has been dubbed “a farce of a sham” by CNBC commentator Jim Cramer.
What happened was this: Cramer made the remark on Twitter after the online advertising company’s stock witnessed a trading volume of 354.52 million shares on Tuesday, more than 39 times the typical volume.
Marin Software’s stock also soared to a new high of $18.82, and its market capitalization surpassed $100 million, thanks to strong demand from retail investors. Marin topped Stocktwits’ list of the top 10 trending streams early Tuesday.
Also see: The stock of Marin Software has soared: Why It Matters: Key Technical Levels to Watch Marin’s stock has risen since last Wednesday, when the business announced that its flagship MarinOne platform now includes the ability to control Instacart marketing.
However, because the company has a limited float of 9.9 million shares, it is susceptible to big price swings.
Marin Software’s stock finished at $17.30 on Tuesday, up 130.7 percent from the previous day’s close.
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