Perion Network rebounds to pre-merger levels

Shares of Perion Network (PERI +3.3%) continue to rebound and are kissing price levels before the stock plunged on news of its reverse merger with Conduit's toolbar unit.

Earlier today, SA Pro's Igor Novgorodtsev penned a bullish article (embargoed until 9:45 ET tomorrow) on how the market misunderstood the synergies of the merger and the low valuation paid for Conduit's growing business. He believes PERI trades at a 45% discount to peers.

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