Why the price jumped

  • The stock price of Direct Digital Holdings Inc (NASDAQ: DRCT) rose 13.81% in the last trading session. That is why.

The stock price of Direct Digital Holdings Inc (NASDAQ: DRCT) rose 13.81% in the last trading session. This is a continuation of momentum as the company’s stock price rose 90.21% in the last trading session.

Investors are reacting positively to Direct Digital Holdings by recently announcing that its buy-side advertising platform Orange142 has again been named the go-to digital agency for the Pigeon Forge Tourism Department.

This new 5-year agreement builds on the nearly 25-year relationship between Orange142 and Pigeon Forge. The town of 7,000 has seen an economic impact of over $2 billion from tourism in 2021, marking a 100% increase in Pigeon Forge’s overall tourism tax base over the past 5 years. And the plan for the next 5 years is to generate a gradual increase in the region’s new visitor base, party size, party spend and length of stay, as well as targeted initiatives to increase tourism. key markets including Chicago, Washington DC, Indianapolis and Tampa Bay.

Orange142 provides a full list of digital services to Pigeon Forge, which included media brokerage, buying and monitoring, website development and maintenance, social media management, eCRM management, strategic planning, software management and reporting and analysis. And beyond technical capabilities, Orange142 invests in building relationships with key stakeholders, including the Tourism Advisory Board and local businesses to ensure that all sectors are represented appropriately and effectively.

KEY QUOTES:

“We have been partners with Orange142 for almost 25 years, their team’s understanding of our brand and our audience is unparalleled. Orange142 truly serves as an extension of Pigeon Forge’s tourism department and is a key strategic marketing partner based on its digital expertise.

“It is not obvious for us to continue our partnership with Orange142 for another 5 years, this will be a critical moment as our destination continues to recover from the impacts of the COVID-19 pandemic. no other digital platform better suited to help us meet the challenges and opportunities ahead than our O142 team.”

— Leon Downey, Executive Director, Pigeon Forge Tourism Department.

“We are proud of what we have been able to accomplish for Pigeon Forge and look forward to seeing what we can accomplish together over the next 5 years. Annual website visitation, a great indicator of visitor intent, has grown by more than 500,000 users per year since 2016, with new user growth of 20% over that time. This is a direct impact of the city’s digital advertising efforts – and has generated a huge increase in Pigeon Forge tourism revenue. »

—Ross Ramon, CEO, Orange142

“The numbers speak for themselves when you look at what Orange142 and Pigeon Forge have accomplished. Digital marketing works when technology and expertise are used to identify a customer’s exact needs and develop unique strategies. The beauty of these partnerships goes beyond the direct goal of increasing tourism, as in Pigeon Forge – it has the potential to improve the economic well-being of an entire community.

— Mark Walker, CEO, Direct Digital Holdings

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.

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