Rarus Technologies (OTC: RARS) dropped a dismal 6.19% in share price today after making headlines announcing that the company’s competing in the U.S. $39.5 billion-dollar advertising market with its recent development of a self-serve advertising platform. The stock opened at a share price of $0.12, above yesterday’s closing price of $0.09. Shares of Rarus Technologies fell below $0.10 quickly and after the day’s whipsaws, the stock closed at its intraday low price of $0.09.
After today’s loss, Rarus Technologies has a total loss of 13.33% since the start of 2012. Shares of Rarus peaked at $0.14 on June 6th but continued to drop since that point.
This morning, Rarus Technologies announced it has started development of a self-serve advertising platform. The revenues for U.S. online advertising in 2011 were $32.03 billion and are expected to be $39.5 billion this year.
Rarus Technologies was incorporated in 2010 and is an emerging technology company focused on establishing an innovative business model intended to bridge cutting-edge social media and e-commerce into a marketplace that connects friends, family, consumers, and vendors in new and exciting ways. In May 2012, Rarus Technologies incorporated Zngle as the primary subsidiary and operations base for the Zngle.com licensed internet platform. Zngle.com is designed be a centralized Internet portal and next-generation social media website that incorporates voice/text messaging, video email, and mobile technologies to allow consumers to access real-time information about various products and services through augmented proximity reality search features.
Recent headlines of Rarus Technologies also include:
- June 7th, 2012: Rarus Technologies announced that it has moved quickly to incorporate improvements into its Zngle iPhone app and has submitted version 1.1 of the App to Apple. Additionally, Zngle has now broadened its range of potential clients by also joining the Android Marketplace. The two smart phone giants control 90% of the U.S. Smartphone Market according to CNET.
- May 14, 2012: Rarus Technologies is focusing on a social media platform that fuses local commerce – an estimated $1.4 trillion market by 2015 and growing 13.5% a year.
- On May 9, 2012: Rarus Technologies effected incorporation of a Nevada Corporation named Zngle, Inc. as a wholly owned subsidiary of the company.
- May 9, 2012: Rarus Technologies began final development of a self-serve coupon generator and augmented its sharing application for Zngle Platform — the company aims to capture a share of the $43 billion dollar global market by 2016.
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