Much to the delight of its shareholders, the HearMeOut Ltd (ASX: HMO) share price has been one of the biggest movers on the market today.
In early afternoon trade the audio social media platform provider's shares are up 31% to 14.5 cents.
Why have its shares rocketed higher?
This morning HearMeOut announced that it has strengthened its connected car growth strategy after having its iOS and Android platform approved by auto giant Ford to be used in its cars in the United States.
The agreement will see the HearMeOut app made available in Ford's biggest sales region initially, with a view for extending it to additional geographical regions in the future.
According to the release, the company believes there is a significant opportunity for HearMeOut in the connected car market.
After all, recent research by Gartner estimates that there will be 250 million connected cars worldwide by 2020. This is expected to enable new in-vehicle services and automated driving capabilities.
