MeetMe (MEET) : Traders are bullish on MeetMe (MEET) as it has outperformed the S&P 500 by a wide margin of 30.08% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 6.96%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 8.56% in the last 1 week, and is up 35.76% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 18.18% and the 50-Day Moving Average is 45.17%.
MeetMe (NASDAQ:MEET): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $6.20 and $6.16 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $6.43. The buying momentum continued till the end and the stock did not give up its gains. It closed at $6.34, notching a gain of 4.45% for the day. The total traded volume was 1,938,307 . The stock had closed at $6.07 on the previous day.
The company Insiders own 13.7% of MeetMe shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -14.27% . Institutional Investors own 37.16% of MeetMe shares. During last six month period, the net percent change held by insiders has seen a change of -13.3%. In a related news,The director of Meetme, Inc., Abbott John sold 85,000 shares at $4.62 on June 14, 2016. The Insider selling transaction had a total value worth of $392,700. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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.