Why Perion Network Stock Popped Today

Shares of Perion Network (NASDAQ: PERI) jumped today after the ad tech company issued strong preliminary results for its third quarter. Perion, which operates an "intelligent hub" that connects ad buyers and sellers, said that revenue in the quarter rose 31% to $158 million, ahead of the analyst consensus at $155.4 million. The diversification strategy Gerstel's referring to is the company's focus on multiple advertising channels, including search, social, display, and video.