| Ticker | Company | ±% | Price | Invest | ||
|---|---|---|---|---|---|---|
Shares of Marin Software (NASDAQ: MRIN) stock jumped from a trading average of around $8.30 to a new high for the year at $18.82. MRIN ran up 120% in 1 day, and in the past months, it’s up 728%. MRIN moved with much force and caught the attention of Jim Cramer on “Mad Money.”
Marin Software is a San Francisco-based online advertising company that has helped advertisers manage 40 billion in search, social media and e-commerce in ad spend.
If you are interested in investing in Marin Software, learn how to buy MRIN here.
How to Buy Marin Software Stock
The powerful Reddit crowd seemed to pick a new favorite stock on June 29. Marin Software ran over 100% in 1 trading day. Marin started pre-market trading with prices ranging $8.31 to $10.80. As the day progressed and volume increased, MRIN ran to the high of the day at $18.81. Share prices of Marin Software have consistently risen, displaying higher lows each trading day — a good sign for the stock. Marin Software’s initial public offering occurred March 22, 2013. Today, the company is a leader in the software world.
Marin Software seems to be a good company with consistent financials. It also has plans to keep changing and improving. This stock has a chance to jump again with the surrounding attention of Reddit users. Trading a Reddit stock comes with increased risk because volatility can be high. MRIN was down almost 40% July 1 after spiking 50% earlier in the day and dropping 40% June 30. It’s important to keep in mind the heavy risk of investing in this stock.
Step-by-Step Guide
- Pick a Brokerage. Before you can invest in any company, you must first select a brokerage to execute your trades. Now that most brokers have moved away from a commission-based model, you can purchase MRIN shares free of charge — regardless of which broker you choose.
Define your strategy, then choose a brokerage that offers the necessary tools to carry out your investing strategy. If you feel like you need some practice before putting your hard-earned money to work, select a brokerage that offers paper trading.
Finally, pay attention to any promotional offers from brokerages. You may end up with bonus funds to trade with, a free stock for you and your friends or numerous other potential benefits.
- Decide how many shares you want. Now that you’ve selected a broker, you need to decide how many shares of MRIN you want to buy. Some factors to consider include your age, time horizon, risk tolerance and reasonable expectations for the future of the company.
While investing more than a small percentage of your funds into 1 company is extremely risky, doing this with a Reddit stock presents an even greater risk because of the increased volatility. Before placing a buy order with your broker, you need to determine how much money you want to risk, when you will sell on the upside to take profits and when you will sell on the downside. One option is a stop-loss order to protect your funds.
After looking at the chart and answering these important questions, you can look for a favorable price point and purchase MRIN.
- Choose Your Order Type. After determining how many shares of MRIN you want to buy, your job as an investor is not complete. You now need to decide which order type to use.
The most basic order type is the market order, which will fill your order at the current market price. This order type is best used when you are buying a stock with low volatility and trying to do it instantly.
If you want to better define your risk, you should use a limit order instead, which allows you to purchase shares at a set price or lower. When trading an extremely volatile stock like Marin Software, it may be beneficial to employ a limit order because this prevents your buy order from being filled at a price point that results in you being down in the stock from the very beginning.
- Execute Your Trade. Once you’ve determined the appropriate order type to use, all you need to do is submit your buy order to your broker and wait for your order to process. Once the order fills, your shares of MIRN should appear in your brokerage account.
MRIN Stock History
Marin Software was founded in April 2006 and went public March 22, 2013. MRIN began trading at $14 dollars per share, selling about 7.5 million shares at that price. Software companies have been making news recently as their stock prices spike for no apparent reason.
MRIN began the year trading at $2.01 per share. As of June 30, the stock price hit $11.20 per share. With the r/WallStreetBets’ influence, the stock could see great shifts in price for the remainder of the year. Because this is a great company involved in the software industry, buying MRIN could be a swing play, day trade or long-term hold depending on what price you purchase the stock. Remember to take into account the possibility of extreme dips in the share price.
Pros to Buying MRIN Stock
With the software sector gaining attention and volume, Marin Software could result in positive profits due to:
- Top partnerships: Marin Software is partnered with many big companies such as American Eagle, eharmony, Facebook, Nissan and many others. The company likely will add more significant partnerships in the near future.
- Reddit backing: Reddit users seem to choose different companies each day or every week. This stock ran up 140% in one day and, ultimately, 700% in a month.
- Volume: With Reddit users backing this stock in recent weeks, the volume has increased tremendously. The volume a stock has, the more it can move.
Cons to Buying MRIN Stock
Even though the software sector shows promise, buying MRIN shares has a potential downside:
- Poor financials: Despite the most recent surge in share price, Marin Software does not have the best financials. Benzinga Pro shows MRIN has a negative total cash flow from operating activities, which could present a risk to investing in this company.
- Volatility: MRIN has a higher risk of volatility because of Reddit users taking over this stock. MRIN was down 40% on June 30. The volatility could soon create a strong support line, which could be a sign to buy once again.
Deliver with Marin Software
Even though MRIN is in the hands of Reddit users, it is a good company that is looking to gain another big-name partner in the near future. This stock could quickly see a new all-time high once again.
Frequently Asked Questions
Is MRIN a Buy?
MRIN has been talked about through every major group chat such as Discord, Reddit and the Benzinga Pro lounge. It has moved significantly every day for the last week and a half. In such regards, this would be considered a buy. MRIN has the potential to keep pushing to new all-time highs. Be very cautious and thoughtful when purchasing this stock as it could easily decrease 20% on any given day.
About Luke Jacobi
Luke Jacobi is a distinguished professional known for his role as President at Benzinga, a renowned financial media outlet. With a background in business operations and management, Luke brings valuable expertise to his position, overseeing various aspects of Benzinga’s operations. His contributions play a crucial role in the company’s success, ensuring efficiency and effectiveness across different departments. Prior to his role at Benzinga, Luke has held positions that have honed his skills in leadership and strategic decision-making. With a keen understanding of the financial industry and a commitment to driving innovation, Luke continues to make significant contributions to Benzinga’s mission of providing high-quality financial news and analysis.