Bridgeline Digital (BLIN) Stock Is Flying

Bridgeline Digital (NASDAQ: BLIN) is screaming for the top in the market this morning, and for good reason. Over the holiday weekend, the company announced the exercise of warrants that led to an infusion of cash. Here’s what’s going on:

Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!

BLIN Announces Warrant Exercise

In a press release, Bridgeline Digital said that warrants were exercised, raising $2.5 million in cash for the company. This brings the company’s cash position to around $6 million, offering more strength to its books. 

In the release, Ari Kahn, President and CEO at BLIN, said:

“This warrant exercise demonstrates our investor’s confidence in our recent acquisitions and that our eCommerce 360 strategy will drive faster growth and profitability for Bridgeline. We thank our investors for their ongoing support.”

The company said that it will use the cash to accelerate growth and execute its eCommerce 360 strategy to drive traffic, increase conversions, and increase the average order value of its more than 2,500 customers. 

However, the move in the stock isn’t a purely fundamental one. 

When we talk about Bridgeline stock, we’re talking about a stock with an ultra-tiny float of less than 7 million. At the same time, short interest sits at around 9%, which isn’t alarming, but is enough to lead to a short squeeze. 

All told, today’s move is a mix of positive fundamental news, and technical trading as traders realize the opportunity surrounding BLIN. 

Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!

Final Thoughts

All told, Bridgeline Digital is an exciting company to watch. As it focuses on its eCommerce 360 plan, increased revenue and a push to profitability is expected. Now, with this new infusion of cash, the company has the funding it needs to make its plans come to fruition. All in all, BLIN stock is one to watch closely. 

Don't Miss the Next Big Story

Join our free mailing list below to receive real-time, actionable alerts!