LiveDeal Soars; Stock Market Media Group Says Co Has Enough Cash to Expand Through AcquisitionsMd Noman Siddique (Author) Published Date : Jun 17, 2014 09:48 IST
LiveDeal (LIVE) shares were higher 59% in recent trade after a Stock Market Media Group statement said the operator of the geo-location mobile marketing platform that lets restaurants publish real-time offers should be in a good position to grow through acquisitions. The Stock Market Media Group said LiveDeal's 22% revenue increase, improvement in losses, and a cash position of $10 million in cash should help the company grow. While the process may be frustrating to those investors who want to grow from nothing to Groupon-sized overnight, it seems LiveDeal has embarked upon a methodical plan that has its numbers drastically improving, a platform growing quickly, an expansion into other verticals, and cutting losses so deep that they should soon turn into profits, Stock Market Media Group said. LIVE is trading in the lower half of the 52-week range between $0.79 and $11.94.
LiveDeal Soars; Stock Market Media Group Says Co Has Enough Cash to Expand Through Acquisitions