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.
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