Marin Software (MRIN) skyrockets on Instacart integration and Reddit crowd

Shares of Marin Software (MRIN) skyrocketed when the company announced that it has integrated with Instacart. Last week, the company announced the enhancement to its MarinOne platform.

Instacart is an online grocery platform that delivers groceries and other items from nearly 55,000 stores located in the U.S. and Canada.

Marin said the added ability to its platform will help advertisers better optimize the some $40 billion they spend in digital advertising geared to target consumers to buy goods and services that complement what they are already looking to purchase.

Marin shares were up more than 40% in premarket trading, extending gains that have seen its stock rise more than 300% in the past seven trading days. Exela Technologies’ shares were up more than 30% amid touts on various sub-Reddits. At the open, Marin shares were up 13% and Exela shares were up 65%.

Neither company reported any specific news on Tuesday. Marin’s stock hasn’t traded above $10 since January 2018, while Exela shares haven’t gone above the $10 mark since January 2019. Both companies trade on the Nasdaq.