My Size Inc (NASDAQ: MYSZ) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced that it has received a Notice of Allowance from the United States Patent and Trademark Office. Of course, the news proved to be a source of excitement to investors, sending the stock screaming for the top. Today, we’ll talk about:
- The Notice of Allowance;
- what we’re seeing from the stock as a result; and
- what we’ll be watching for with regard to MYSZ ahead.
MYSZ Announces Notice Of Allowance
As mentioned above, My Size is having an incredibly strong start to the trading session this morning after the company announced that it has received a Notice of Allowance. In a press release issued early this morning, the company said that it has received a Notice of Allowance from the United States Patent and Trademark Office (USPTO). The Notice of allowance surrounds the company’s patent application entitled, “Method and System for Measuring a Path Length Using a Handheld Electronic Device.” In the release, MYSZ said that the patent is expected to be issued in the coming weeks.
This particular patent is the second issued to the company surrounding its technology. Not to mention, the technology is protected by four other patents in Japan and Russia. Also, further patents are pending in the United States. The particular patent allowance announced today surrounds the methods and systems for measuring a path length using a handheld electronic device. Essentially, this patent addresses the technology that forms the foundation for the My Size measurement app. In a statement, Ronen Luzon, CEO at MYSZ, had the following to offer:
My Size is an innovation engine for measurement technologies that we believe will fundamentally transform and enhance business in our targeted vertical markets including the shipping and courier business, retail apparel, and the do-it-yourself (DIY) market… The U.S. is one of the largest geographic markets for our measurement technology and we are deploying significant marketing and sales efforts in this market. The U.S. Patent and Trademark Office’s allowance of this patent supports our sales strategies and validates the uniqueness of our innovations.
What We’re Seeing From The Stock
As investors, one of the first – and most important – lessons that we learn is that the news moves the market. In the case of My Size, the news proved to be overwhelmingly positive. With the patent allowance in mind, the company has a stronger line of defense when it comes to protecting their core asset – their measuring application for smartphones. So, it’s no surprise that excited investors are sending the stock on a run for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:15), MYSZ is trading at $1.21 per share after a gain of $0.20 per share (19.80%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on MYSZ. In particular, we’re interested in following the story surrounding the company’s continued growth and improvement with regard to IP protection. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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