The Rubicon Project (RUBI) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 2,107,640 to 1,564,792 shares, with 1 days to go before the expiry. The short open interest has decreased by -25.8%, amounting to a reduction of -542,848 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 4.2% of the float of the company. The average daily volume of the stock is 2,116,606 shares. The short interest information was released on Wednesday Aug 24th after the market close.
The Rubicon Project (NYSE:RUBI): The stock opened at $9.07 on Wednesday but the bulls could not build on the opening and the stock topped out at $9.13 for the day. The stock traded down to $8.81 during the day, due to lack of any buying support eventually closed down at $8.83 with a loss of -2.65% for the day. The stock had closed at $9.07 on the previous day. The total traded volume was 501,576 shares.
In a related news, Tappin Todd L, officer (CFO & COO) of Rubicon Project, Inc., unloaded 54,927 shares at an average price of $14.19 on May 16, 2016. The total amount of the transaction was worth $779,414, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
The Rubicon Project, Inc. is a technology company that focuses to automate the buying and selling of advertising. The Companys Advertising Automation Cloud platform provides user reach and a marketplace for the real time trading of digital advertising between buyers and sellers. Buyers of digital advertising use its platform to reach around 600 million Internet users globally on some of the sellers Websites and applications. Sellers of digital advertising use its platform for advertising, while accessing a market of buyers representing advertiser brands around the world. Its Advertising Automation Cloud features applications for digital advertising sellers, including Websites, mobile applications and other digital media properties, to sell advertising inventory; applications for buyers, including advertisers, agencies, agency trading desks (ATDs), demand side platforms (DSPs) and ad networks, to buy advertising inventory, and a marketplace where such transactions are executed.