Why MER Telemanagement Solutions Ltd. (NASDAQ: MTSL) soared high on Friday?

The telecommunications expense management service provider had earlier signed a definitive agreement with SharpLink, Inc., the sports betting technology company. After the merger, MER will start pursuing SharpLink’s business under the latter’s name. On Friday, the stock surged 26.40%, with a hike of 99 cents to close at $4.74 at the ring of the bells. At the end of the sessions, 195K shares were trading in the market compared with its average trading volume of 1.15 million shares. Throughout the day, the stock moved within the range of $3.58 – $6.44, hitting its 52-week high of $6.44. 

Soaring in the after-hours as well

The stock remained bullish even in the after-hours. It surged 27.22% and was trading close to $6.03 per share. Over the last 12 months, this stock has gone up 259.09%. In the last week, this stock has gained 51.44% collecting $1.61. MER Telemanagement has seen a bullish uptrend of 111.61% in the previous six months, with the stock gaining $2.50. this one has remained a profitable stock since the beginning of time. 

Investors who are fond of stocks priced at below $10 would know that MTSL is the one stock that has surged 41.07% in the last half-a-decade time. Over time, this stock has given a gain of $1.38. 

The company, which is expected to start its business in another name to come, has a market capitalization of $22.44 million. It has its headquarters in Israel and was founded back in 1995. 

In December 2020, the company had announced its diluted EPS at $0.09, down 550.00% from a year before. Its revenue was registered at $957.50K, indicating a downtrend of 29.23%. The company’s operating income was reported at $118.50K, reflecting a 250.00% fall on a year-over-year basis.