The mobile technology and marketing outfit Friendable Inc (OTCMKTS:FDBL) was in sharp focus among investors yesterday despite there being no news about the company at all.
The Friendable stock emerged as one of the notable gainers yesterday and ended the day with gains of as much as 24%. In order to get a better idea about the rally in the Friendable stock, it might be a good idea for investors to take a look at a key announcement from the company on August 24. The company announced that it came up with a new shopping experience that could help Friendable in further boost its revenues, exposure for artists and also result in higher sales of merchandise through the Fan Pass platform.
It was a major announcement from the company and might have led to the excitement among investors about the Friendable stock. The company also noted that the new online store will offer a range of navigation and design upgrades that are going to enhance the visibility for artists on Fan Pass. Consequently, it is expected to lead to higher volume of sales and hence, the announcement from Friendable that it could boost revenues is perhaps a fair assessment.