Babylon Gains Most in Four Months as CEO Sees Online Ads Rising
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Babylon Ltd. gained the most in four months after the maker of translation software said it’s set to release a new product next week and expects to continue to benefit from a surge in online advertising.
Shares of Babylon, based in Or Yehuda, Israel, added 9.7 percent to 26.94 shekels, the most since Sept. 9 at the close in Tel Aviv. The stock has gained 15 percent in the last three days. The rally comes after the shares fell to 21.12 shekels on Dec. 24, the lowest level since April, on concern that revenue from its partnership with Google Inc. will fall and plans to list on the Nasdaq Stock Market will be delayed.