Why Quotient Technology (QUOT) Shares Are Trading Higher Today

Quotient Technology Inc QUOT is weighing options that include a sale of the company as it struggles with a collapse in advertising revenue.
Quotient is working with investment bank Houlihan Lokey Inc HLI on a sale process that has been underway for several weeks, Reuters reports.
Quotient operates Coupons.com and other digital marketing platforms offering promotions to consumers.
It focuses on the U.S. grocery sector and has some of the biggest consumer companies as clients, representing over 2,500 brands.
Quotient's fortunes gave in to the pandemic recovery-led slowdown, further worsened by clients slashing advertising spending. Its shares have lost 80% of their value since April 2021.
In February, Quotient said its revenue dropped from $521.5 million in 2021 to $288.8 million in 2022, while its net operating loss widened from $(45.6) million to $(76.5) million.
Price Action: QUOT shares traded higher by 13.6% at $3.77 on the last check Tuesday.