Without question the biggest mover on the Toronto Stock Exchange ahead of the long holiday weekend is little Mood Media Corp. (TSX:MM), whose stock sizzled ahead over 100 percent Thursday morning on an upbeat 2016 report. Shares of the customer experience company have virtually been unchanged in 2017, mostly bopping back and forth between 6.5 and 7 cents every day before today.
The catalyst was Mood saying that it experienced a $17.0 million swing in free cash flow from -$14.3 million in 2015 to posting $2.8 million in positive free cash flow for the full year 2016. This was accomplished as revenues slipped 2.1% from 2015 to $465.3 million last year.
A key indicator of performance for Mood is site additions. In 2016, the company reported net site additions of 671, compared to a net decline of nearly 10,000 in 2015. The fourth quarter of 2016 was particularly important, as Mood added 3,275 sites during October-December.
On the downside, Mood still operated in the red for 2016, recording a net loss of $57.68 million, or 31 cents per share, although that was better than 2015 when the company had a net loss of $79.96 million, or 44 cents per share.
Bay Street has shirked off the net loss and sent shares flying 146.2% to 16 cents after closing Wednesday at 6.5 cents. The surge in share price gives Mood a market capitalization of $29.5 million.
