Bridgeline Digital Makes Big Price Moves Following UPS Deal Announcement
Shares of Bridgeline Digital (NASDAQ: BLIN) were halted, then traded more than 80% higher today after the small cap cloud software provider announced a deal with United Parcel Service (NYSE: UPS). Bridgeline helps its clients manage their web presence. The company only had a market capitalization of around $19 million as of yesterday's market close, so a potentially large contract with a company like UPS could have a huge impact on Bridgeline.
Bridgeline did not immediately disclose a monetary value for the “multi-year agreement.” However, investors might deduce from Bridgeline's description of the contract as an “end-to-end offering” that that the contract could be significant for a small cap company such as Bridgeline.
Shares of Bridgeline have pulled back significantly since their spike of more than 80% this morning and are now trading around 72 cents or 47.7% higher for the day.
Disclosure: At the time of this writing, I did not own shares of any companies mentioned in this post.
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