Rising 13% in mid-day trading Monday, LiveOne (NASDAQ:LVO) marks the continuation of a three-day surge driving the stock to a three-month high. The shares of the digital media company have jumped about 39% over the past week as its affiliation with Tesla (NASDAQ:TSLA) fuels subscriber increase to almost 450,000 customers.Over the past two weeks alone, the collaboration attracted 100,000 additional members. About 25% of the members are free ad-supported users who spend more than fifty minutes per day on LiveOne.
LiveOne CEO Robert Ellin remarked, "Our Tesla relationship highlights the possibilities of our B2B deals, delivering special content and programming to our partners to drive user engagement, retention, and loyalty."The cooperation emphasizes LiveOne's emphasis on business-to-business prospects to increase user base and improve engagement measures. The strong performance of the stock demonstrates investor trust in the company's capacity to scale by means of strategic alliances and produce significant expansion.
This article first appeared on GuruFocus.免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。