IZEA Stock Price: New Fortune 500 Customer already influences, tripling IZEA Worldwide value this week
- IZEA Worldwide is trading above $2, more than tripling its value since Friday's close.
- An announcement of a new Fortune 500 Customer is behind the move.
- The six-figure contract may attract further orders.
Influencing is critical to convince people to maintain social distancing rules and also to impact consumption, with fewer dollars to run around. IZEA, a firm specializing in influencers, has taken an initial hit amid the coronavirus crisis but seems to have emerged stronger.
According to Ted Murphy, the company's CEO, it has already recovered the level of bookings seen from the beginning of the year through March 15, when the US entered a state of national emergency.
IZEA Stock News
Moreover, the firm announced on Monday that it secured a six-digit contract with a Fortune 500 Customer. The press release sent the stock surging, sending it to the highest since 2018. NASDAQ:IZEA closed at $0.60 on Friday, and shrugged off its penny-stock status on Monday with a leap above $1. It is now trading above $2.
The Winter Park, Florida-based firm may now continue to secure additional influencer deals. The crisis shifts money away from traditional advertising to social media, and celebrities on various platforms, known as influencers, are listened to by younger audiences.
IZEA promises to streamline the process of advertising on via influences and to allow content producers to shine and also make money.
Author
Yohay Elam
FXStreet
Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.
