INUV Stock Price Increases Over 35% Pre-Market: Why It Happened

By Amit Chowdhry ● January 20, 2021
  • The stock price of Inuvo Inc (NYSEAMERICAN: INUV) is trading at over 35% pre-market. This is why it happened.

The stock price of Inuvo Inc (NYSEAMERICAN: INUV) — a leading provider of marketing technology, powered by artificial intelligence that serves brands and agencies — is trading at over 35% pre-market. Investors are reacting to the company closing a registered direct offering for total gross proceeds of $8 million before deducting placement agent fees and other estimated offering expenses.

Inuvo sold 13,333,334 shares of its common stock, par value $0.001 per share at a price of $0.60 per share. And Inuvo expects to use the net proceeds from this offering for working capital and other general corporate purposes.

A.G.P./Alliance Global Partners had acted as sole placement agent for the offering.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.