Thanks to a decision made by India’s Bureau of Outreach and Communication (BOC), Comscore currency will be used to set ad rates for desktop and mobile advertising in India to help create “a fair and stable marketplace.”
Did this news give investors a reason to put a stop to Comscore’s big dip on Wall Street?
Nope. With minutes before the Closing Bell on Wall Street, SCOR was heading to fresh record low on Nasdaq.
At the Closing Bell on Tuesday, SCOR was off 1.3% to $8.27.
That puts Comscore at another new low — and it has had many since April 1, when an abrupt leadership change shook investors and led to several class action lawsuits against a data and consumer analytics company that seeks in many ways to compete against Nielsen.
Analysts consider SCOR to be highly “Overvalued,” even as it is far off its March 5 closing price of $23.21.
Comscore’s Q2 earnings are expected to be released between August 7 and 12.
In India, the BOC undertakes multi-media advertising and publicity for various Ministries and Departments of the Government of India. This appointment represents BOC and Comscore’s commitment to providing the industry with a single trusted source of measurement across platforms. At present, all publishers have been invited to submit their monthly numbers for empanelment.
“We are excited Comscore has been selected as an official digital audience measurement currency in India,” said Kedar Gavane, senior vice president of Comscore in APAC. “As the advertising market in India continues to evolve, we are proud to provide accurate, independent measurement so that advertisers and agencies feel confident in their advertising decisions across key channels.”
Comscore operates in 78 countries. Comscore is the appointed online measurement standard in several markets across the globe, including Indonesia, Malaysia, the UK, Spain, Finland and Norway.