Augme Technologies (OTC: AUGT), a mobile marketing services provider, saw a small rebound today after suffering a sharp decline in the stock market yesterday. The company recently announced that its subsidiary, Hipcricket, will be working with ISIS to create mobile health resources for teens and young adults. ISIS, based in Oakland, California, is a nonprofit organization that uses mobile technology as a tool to prevent diseases and promote sexual health. ISIS has been a client of Hipcricket since 2005 and currently uses the company’s services to manage SMS messaging, membership lists, clinic locators and informational messaging such as reminders about disease testing. ISIS is focusing on texting campaigns, as a majority of teens communicate primarily through texting.
Augme Technologies, based in New York City, recently held its annual meeting and announced the results on August 2, 2012. The company has applied for stock listing with NASDAQ and believes that listing with NASDAQ is in the shareholders’ best interest. It will offer the company an opportunity to expand its shareholder base. The company may exercise its authority to do a reverse split at a ratio of 1:2 to meet the $4 threshold requirement for stock listing on the NASDAQ Global Market.
Augme Technologies provides strategic mobile marketing services to leading consumer and healthcare brands. It tracks marketing through every mobile channel, including SMS, MMS, mobile websites, QR codes, social media and applications. Augme Technologies also provides business-to-consumer solutions, including national mobile couponing campaigns, strategic mobile healthcare tools, custom mobile application development, and consumer data tracking and analytics. The company also operates in Atlanta, Dallas, Los Angeles, San Francisco, Seattle, Chicago, Miami, Dallas and Tucson.
Augme Technologies’ stock rebounded more than 16% today after dropping from $2.01 to $1.48 yesterday. The stock has dropped more than 30% this week. The stock opened at $1.49 this morning and shot up to $1.76 before closing at $1.72, posting an overall gain of $0.24. The stock was as low as $1.25 on December 14, 2011, with a high of $3.62 posted on September 6, 2011.
Today’s volume was more than double the average. Just under 574,000 shares were traded today, compared to the daily average volume of 217,751 shares. Volume was much higher yesterday, exceeding 1.8 million shares. However, it was still below the 52-week high of more than 2.2 million shares recorded on November 10, 2011.
Augme Technologies has consistently been a hot stock to watch for the past several months, receiving heavy promotions from penny stock newsletters. The company is a leader in the mobile marketing industry and has been fairly active. The stock should have no problem climbing back up the charts soon.