Why are Marin (MRIN), QuantumScape (QS) stocks trending today?

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 Why are Marin (MRIN), QuantumScape (QS) stocks trending today?

Highlights

  • The stock of Marin Software Incorporated (NASDAQ: MRIN) rose 185% YTD.
  • The QuantumScape Corporation (NYSE: QS) stock declined 51.72% YTD.
  • MRIN has recently completed a revenue-sharing agreement with Google.

Stocks of Marin Software Incorporated (NASDAQ: MRIN) and QuantumScape Corporation (NYSE: QS) were trending on Wall Street Wednesday. The former rose around 80 percent, while the latter gained about one percent in the premarket session.

The MRIN stock traded at US$10.33 at 8:39 am ET, up 81.55 percent from its previous close, while QS stock was priced at US$24.50 at 8:41 am ET, up 1.58 percent.

Let's look at the recent development of the two companies.

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Marin Software Incorporated (NASDAQ: MRIN)


Marin Software is an online advertising company based in San Francisco and provides digital marketing and advertisement solutions for search, social platforms, and e-commerce channels.

The company has been in the spotlight after announcing the completion of a revenue-sharing agreement with Google for developing an enterprise platform and software products. The agreement will come into force after Sep 30, when an existing deal signed in 2018 will cease.

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The San Francisco-based firm has a market cap of US$88 million, and its EPS is US$-1.31. The stock surged 185.93 percent YTD. The 52-week highest and lowest stock prices were US$27.26 and US$1.18, respectively. A total of 20,562,710 shares were traded on September 21.

The company's revenue decreased by 16 percent YoY to US$6.09 million in Q2, FY21. It reported a net loss of US$2.50 million, or US$0.23 per share, compared to a loss of US$3.48 million, or US$0.50 per share in the same quarter of the previous year.

Source: pixabay


Image Description: MRIN and QS stocks trend on Wall Street Wednesday.

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QuantumScape Corporation (NYSE: QS)


QuantumScape is a San Jose, California-based company that develops solid-state lithium batteries for electric vehicles.

On Tuesday, the firm announced a partnership with an automobile company for analyzing its solid-state battery cells. However, the company has not named the automaker.

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The firm's market cap is US$10 billion, and the forward P/E one year is -114.86. The stock of the Volkswagen-backed company plunged 51.72 percent YTD.

The highest and lowest stocks prices in the last 52 weeks were US$132.73 and US$11.25, respectively. Its trading volume was 44,795,460 on September 21.

In Q2, FY21, the loss from operations was US$49.62 million against a loss of US$14.22 million in the year-ago quarter. The net income was US$80.98 million against a net loss of US$13.94 million in Q2, FY20.

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Bottomline


The NASDAQ-100 technology sector jumped 18 percent YTD and 2.50 percent QTD. Experts believe the sector will continue to grow with increased demand for technology products. However, investors should carefully evaluate the companies before investing.

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