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Why Shares of IZEA Worldwide [NASDAQ: IZEA] Skyrocketing Today?

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Shares of IZEA Worldwide, Inc. [NASDAQ: IZEA] surged 8.10% at the time of writing on Wednesday. The strong performance of the firm has highlighted the positive sentiments of the investor after the firm has disclosed that it has been granted a new mid-six-figure influencer marketing contract from a Fortune 100 firm.

IZEA has been enthusiastically working with multiple affiliates of the multinational conglomerate to encourage various properties and individual titles. The primary focus of the firm is on driving consumer adoption of streaming services.

IZEA Worldwide, Inc. [NASDAQ: IZEA] shares were trading up 8.10% as the firm has gained +0.17 at the time of writing. IZEA Worldwide, Inc. [NASDAQ: IZEA] share price went from a low point around $0.66 to briefly over $7.45 in the past 52 weeks, though shares have since pulled back to $2.27. IZEA’s market cap has remained high, reaching $129.17 million at the time of writing.

Furthermore, IZEA earlier disclosed that July 2021 was the best July in firm history for Managed Services bookings. The firm has since added wins from both new and current customers. Managed Services bookings for Q3 2021 to date have now topped all of Q3 2020.

Additionally, the firm disclosed that revenue from Managed Services bookings is typically known over a 9-month period on average, though larger contracts may be known over longer periods of time. IZEA recognizes Managed Services revenue based on a percentage of completion.

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