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Why Quotient Technology Stock Was Up on Tuesday

TheMotleyFool

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Why Quotient Technology Stock Was Up on Tuesday: https://g.foolcdn.com/editorial/images/736914/online-shopping-with-credit-card-at-home.jpg

Quotient Technology (NYSE: QUOT) shareholders had a great to start to the trading week. The digital promotions and media tech specialist's stock jumped 16% in early trading, compared to a nearly 1% drop in the S 500.

The rally put Quotient back nearly in line with the wider market's 14% increase so far in 2023. It was powered by news that the company just struck an all-cash deal to go private.

Quotient announced before the market opened that it had reached a deal to be purchased by Neptune Retail Solutions, a multichannel retail marketing specialist. The agreed-upon price for the business is $430 million, which works out to roughly $4 per share in cash.

Source Fool.com