MapQuest Hits 2M New Users in a Week, Tops Google Play Too
SST has more than doubled off its 52-week low of $1.35 on elevated volume (4.9× avg).
Summary
MapQuest's viral surge has accelerated dramatically: 2 million new users in the past week, up from 162,000 U.S. downloads reported just eight days ago. The app now holds the No. 1 overall free position in both Apple App Store and Google Play Store, a new milestone. This follows the August 31 Benzinga report on the naming controversy and the September 1 BusinessWire announcement of Apple App Store dominance. For System1, whose Q2 revenue fell 61% and cash dropped to $40.5M with going-concern doubts, this user explosion could materially improve advertising revenue and valuation. Watch for monetization metrics in the next quarterly report.
At the time of this announcement, SST was trading at $3.84 on NYSE in the Technology sector, with a market capitalization of approximately $40.2M. The 52-week trading range was $1.35 to $9.30. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.