MeetMe (NASDAQ:MEET) has seen a rise of 79,662 shares or 7.9% in the short interest. The remaining shorts are 2.4% of the total floated shares. The net short interest, as on June 15,2016, stood at 1,083,530 shares and the stocks days to cover will be 1 by factoring in the average per day volume of 1,715,432 shares. On May 31,2016, 1,003,868 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
MeetMe (NASDAQ:MEET): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $4.50 and $4.40 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $4.89. The buying momentum continued till the end and the stock did not give up its gains. It closed at $4.86, notching a gain of 0.83% for the day. The total traded volume was 7,184,617 . The stock had closed at $4.82 on the previous day.
The company shares have rallied 185.88% from its 1 Year high price. On Jun 20, 2016, the shares registered one year high at $4.99 and the one year low was seen on Aug 26, 2015. The 50-Day Moving Average price is $3.93 and the 200 Day Moving Average price is recorded at $3.36.
MeetMe (NASDAQ:MEET) has climbed 4.07% in the past week and advanced 40.87% in the last 4 weeks. In the past week, the company has outperformed the S&P 500 by 5.8% and the outperformance has advanced to 45.13% for the last 4 weeks period.
MeetMe, Inc. is a location-based social network for meeting new people both on the Web and on mobile platforms, including on iPhone, Android, iPad and other tablets that facilitate interactions among users. The Company is a social media technology company that owns and operates MeetMe.com. The Company monetizes through advertising, in-app purchases, and paid subscriptions. The Company provides users with access to a menu of resources that promote social interaction, information sharing and other topics of interest to users. The Company had approximately 4.98 million monthly active users (MAUs). The Company offers online marketing capabilities, which enable marketers to display their advertisements in different formats and in different locations. The Company works with its advertisers to maximize the effectiveness of their campaigns by optimizing advertisement formats and placement.