Shares of e-commerce infrastructure company Viant (Nasdaq: VIAN) soared nearly 14 percent on Tuesday, climbing 4-5/8 to 38 after Viant announced a partnership with Hewlett-Packard. Viant and Hewlett-Packard will work together to create “e-services” that will perform specific tasks and transactions for online businesses.
Viant is an extremely thinly traded stock. Volume was light even after the strong news led to a sharp spike in the stock price. Just 68,500 shares of Viant changed hands on Tuesday. With just 68,500 shares traded, it’s clear that there wasn’t much — if any — daytrading going on here.
It seems that Viant is still a largely invisible company for many investors, even though top investment bank Goldman Sachs was the lead underwriter for its initial public offering. Even so, Viant stock is doing just fine. The company went public at $16 in June.
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