CDLX - Why Cardlytics Stock Skyrocketed 75% Last Month
2024-04-02 17:53:00 ET
Shares of advertising-technology (adtech) company Cardlytics (NASDAQ: CDLX) skyrocketed 74.8% in March, according to data provided by S&P Global Market Intelligence . Investors had disregarded this company's prospects entirely. But its latest financial report surprisingly showed modest growth and improved financials.
Cardlytics' partners are financial institutions, and the company's software helps these companies manage loyalty and rewards programs. This allows Cardlytics to have a first-hand view of consumer spending. This valuable information is then packaged for advertisers. And there's certainly a lot of demand for this.
On March 14, Cardlytics stock skyrocketed when it announced financial results for the fourth quarter of 2023. Monthly active users (MAUs) for its platform were up 7% year over year to 168 million. This user growth led to an 8% jump for revenue.
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Why Cardlytics Stock Skyrocketed 75% Last Month