Shares of Marin Software Inc.
MRIN,
+62.39%
were both the biggest gainers and most active on major U.S. exchanges in afternoon trading Wednesdasy, after the digital advertising disclosed that it renewed a revenue share agreement with Alphabet Inc.’s
GOOGL,
+0.63%
Google LLC. The stock rocketed 58.7% on volume of 114.6 million shares, which compared with the full-day average of about 4.6 million shares. The company said the agreement with Google, which is for Marin to develop its enterprise technology platform and software products, is effective Oct. 1. That takes the place of the current revenue share agreement, which was entered into in December 2018 and ends on Sept. 30. Marin said it will receive revenue payments from Google based on revenue generated on its platform, in connection with how much its clients spend on ads appearing on Google searches, as well as revenue generated on its platform based on how much its clients spend on search ads appearing on certain other search engines. The stock had skyrocketed 14-fold in eight sessions, from June 24 to a 5 1/2-year closing high of $24.14 on July 6, after the company announced an integration with Instacart Ads. The stock pulled back sharply since then, and closed Tuesday at $5.69. With Wednesday’s gain, the stock was still up 437.5% over the past three months, while the S&P 500
SPX,
+0.92%
has up 17.1%.