BLIN stock rocketed over 170 percent Wednesday after the company announced the launch of its new iAPPS Pro product line, a Web Experience Management System catering to the mid-market and nimble enterprise companies. Bridgeline said in a press release that the new product offering more than triples market opportunity.
“iAPPS is an established player in the web content management space – it powers thousands of websites,” commented Ari Kahn, CEO at Bridgeline Digital.
Bridgeline Digital’s (BLIN) trading volume jumped on the news with the issue currently trading more than 4 million shares. Given that the stock’s average daily volume over the last 3 months has been only 15.5K shares a day, this represents a substantial spike over the norm.
Shares of Bridgeline Digital have gained $1.30 to $2.35 in early trade, giving it a market capitalization of roughly $12 million. The stock traded as high as $3.47 on September 4, 2015.
Shares are down 38.95% year-over-year, compared with a 0.33% gain in the S&P 500.