Groove Community Update – Inuvo/Vertro
A quick update for Groove community members on our focus stocks – Inuvo and Vertro. Given the announced merger, the two have begun to trade in tandem as would be expected. While there continues to be some discount from the Inuvo price x 1.546 for Vertro shares, they have remained fairly consistent in mirroring the moves of Inuvo’s stock price. Hopefully, Groovers have taken advantage of the recent opportunity to buy Inuvo shares in the same price range ($1.05) as it was when we made our original recommendation. We believe the weakness in Inuvo shares is being driven by broader market volatility and year end tax loss selling; and we expect to see buyers of Inuvo stock in that $1.00 price range enjoying substantial returns 6 – 9 months from now.
It’s nice to see that the folks at Inuvo have been busy working to get their new apps out in advance of the Christmas shopping season rush that begins this week, we have noted the following over the last few days –
1) Kowabunga’s new interactive geo-specific ad unit is now live, see an example by clicking below –
2) Vertro’s Appbar has added a Kowabunga App to the shopping options for its 8 million+ Appbar users –
3) Inuvo’s BargainMatch browser extension has been accepted into Mozilla’s Add-ons directory –
We believe that Inuvo has built a very nice stable of apps that offer the potential for significant upside to Inuvo’s historic revenue run rate if the company can just get consumers to try them. The BargainMatch browser extension in particular offers significant utility and value for consumers who shop online and we think those who give it a try will keep it and use it. Getting accepted into Mozilla’s add-on directory is a nice win for the Inuvo team and what we hope to be the start of a series of deals to get the BargainMatch tool into the hands of more consumers.
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