Mimvi Jumps Into the Ring With the Big Boys (MIMV)

This week, Mimvi Incorporated (OTC: MIMV) announced it had finalized a partnership with Microsoft (NADAQ: MSFT) to provide products and services to complement the giant’s Windows Azure and Windows Mobile 8 platforms. In essence, the deal represents a counter-punch thrown by Microsoft to answer a deal in which arch-rival Apple (NASDAQ: AAPL) acquired Chomp for $50 million earlier this year. The partnership with Mimvi will give Microsoft access to the leading mobile app and recommendation technology. Mimvi will receive engineering services, software and cash from Microsoft.

Two benefactors of the Mimvi-Microsoft arrangement are Yahoo (NASDAQ: YHOO) and Facebook (NASDAQ: FB). Mimvi recommendation apps may be the ticket Yahoo has been looking for when it partnered with Microsoft to improve its search advertising platform. Mimvi’s social media expertise could also help the link between Microsoft and Facebook that was founded on ways to improve the integration between search and social.

When the news hit the tape before the opening on September 25, 2012, buyers drove the stock higher right out of the gates. Share prices nearly tripled in one day, running from $0.20 to $0.60. At the start of trading on the following day, the stock leaped another dime. The final trading day of the week saw share prices continue a pull-back that began yesterday. The stock opened at an intraday high of $0.50, or a penny above Thursday’s closing price. Sellers did not waste time getting into the swing of things. As the first 30 minutes of the trading session expired, the stock hit its low price for the day at $0.39. With the weekend fast approaching, traders started to pack up and the stock drifted slightly higher into the close on decreasing volume. The last trade of the day printed at $0.42 and the stock finished the session with a loss of 14%. The number of shares exchanged during the day amounted to 921,000, which paled in comparison to the nearly 5 million shares traded on Tuesday and Wednesday. Today’s volume, however, still exceeded the number of shares traded on an average day by about 400,000 shares.

The last two days have lowered Mimvi share prices by almost 75% from the peak on Wednesday morning. Traders will have the next two days to decide if the decline in the stock over the last 48 hours is just a normal correction, and if they should be buyers or sellers when the opening bell rings on Monday morning.

The stock became DTC eligible on August 16, 2012, which allowed trades to electronically settle. The date marked the time when shares started to actively trade. The high trade so far for the year occurred on Wednesday when shares traded for $0.72.

In other news, the company announced on August 7, 2012, that it had agreed to buy Lone Wolf.

Mimvi focuses on developing advanced mobile apps and technology for personalized search and recommendation used by the mobile application and social media industries. MimviLink allows advertisers to match web and mobile content to relevant mobile applications. The Sunnyvale, California, company was founded in 2007.

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Published by Alan Masterson

Alan has over 25 years of trading experience in the U.S. equity markets. He began his career in finance working on a program trading desk specializing in over-the-counter stocks. His career progressed from that point to his current position as senior trader on an institutional trading desk. In the evenings, Alan teaches economics at a local community college. He has contributed articles to various publications over the last six years, including feature articles for an economics magazine and various financial blogs. You may contact Alan via his email (alanmasterson@wallstreetpr.com) or his Google+ page (https://plus.google.com/103338576216002376250).