SRAX, Inc. Nasdaq SRAX September 6, 2020
Shares in SRAX spiked as much as 37% in Friday’s extended market session after the digital marketing and consumer data technology company announced plans to acquire LD Micro, a data and event company serving the small and micro-cap space.
The stock soared to as much as $3.91 on the news in Friday’s after-market session. Financial terms of the deal weren’t disclosed, but it is expected to close next week. SRAX (SRAX) has developed into a financial technology company that unlocks data and insights for publicly traded companies. Through its investor intelligence and communications platform, Sequire, companies can track their investors’ behaviors and trends and use those insights to engage current and potential investors across marketing channels.
The combined entities will focus on the rapid adoption of SRAX’s Sequire platform as well as hosting virtual and in-person events, the companies said.