Auddia Inc. (AUUD) stock started the new week trading by skyrocketing 43.66% in the morning session on Monday, June 28, 2021, and closed the session at $5.89 per share. it continued its momentum in the after-hours session and further gained 10.87% and closed the day at $6.53 per share. AUUD shares have gained 98.99% over the past three months. The company has a current market of $60.08 million and its outstanding shares stood at 11.29 million.
Let’s try to find out was there any reason behind AUUD exceptional surge on Monday?
New Audio Content Processing Methodology
On June 22, 2021, Auddia Inc announced a major advancement in its proprietary technology at the core of its Artificial Intelligence engine.
The new AI processing methodology will provide near real-time data processing capabilities which are expected to improve the overall performance of the Auddia platform
Auddia will reduce the costs of processing audio content for AI training and validation to near zero and concurrently realize vastly superior improvements in accuracy by leveraging precise audio and metadata from radio stations.
Participation in the recent conferences
Auddia Inc recently participated at Summer Solstice – Best Ideas from the Buy-Side conference, which held virtually on June 1st – 4th, 2021. The company was presented by the founder and executive chairman, Jeff Thramann.
Auddia Inc was also presented itself at the Benzinga Global Small-Cap Conference which took place on May 13-14, 2021.
The company also took part in the Q2 Virtual Investor Summit which held on May 17-18, 2021. The company was presented by Jeff Thramann.
Second broadcast radio partnership with Amaturo Sonoma Media
On April 28, 2021, Auddia Inc announced its second broadcast radio partnership with Amaturo Sonoma Media LLC (ASMG or Sonoma Media). Sonoma Media owns and operates five top-rated radio stations in addition to Northbay biz Magazine. The partnership expands Auddia’s landmark pilot, which marks the first time radio broadcasters will be promoting a subscription-based commercial-free premium listening experience to over-the-air listeners, to reach over 300,000 radio listeners every month.
New CFO appointment
On April 14, 2021, Auddia Incappointed Brian Hoff to the role of Chief Financial Officer. Mr Hoff is replacing Rick Liebman, who will remain with the Company in a transition capacity through April 30, 2021.
Well, as of this writing there is no recent news or development which could justify its top-notch performance on Monday. We hope that AUUD stock will continue to prosper more in the coming days.