ParkerVision, Inc. (NASDAQ: PRKR)
PerkerVision is having an incredibly strong day in the market today. While we are only 4 minutes into the session, the gains on the stock are dramatic to say the least. In the pre-market hours, the stock skyrocketed and it’s pretty clear that this thing will close the day in the green already. Below, we’ll talk about what we’re seeing from PRKR, why, and what we’ll be watching for ahead.
What We’re Seeing From PRKR
As mentioned above, ParkerVision is having an incredibly strong day in the market today. Before the opening bell even rang, the stock went on a mad-dash for the top on a patent decision that we’ll talk about later. As a result, PRKR is currently (9:34) trading at $3.35 per share after a gain of $0.76 per share or 29.29% thus far today.
Why The Stock Is Running For The Top
As is almost always the case, our partners at Trade Ideas were the first to inform the CNA Finance team of the gains on PRKR. As soon as we received the alert, we started working to see why the stock was running for the top. It didn’t take long to dig up the dirt. The gains are ultimately the result of a patent decision.
Early this morning, ParkerVision announced that the Patent Trial And Appeal Board issued a decision with regard to the petitions for Inter Partes Review filed by Qualcomm (QCOM) against ParkerVision. In this case, PRKR received a favorable ruling, following several other recent favorable rulings and proving that the company is capable of protecting its intellectual property. In a statement, Jeffrey Parker, CEO at PRKR, had the following to offer…
“We continue to take positive steps forward in our Qualcomm proceedings and believe these results are indicative of the strength of ParkerVision’s innovations and our plan to realize the value of those assets, particularly in light of the high success rate of petitioners in invalidating patents through IPR challenges. We are pleased that the PTAB confirmed the validity of claims from both of the patents we chose to defend.”
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on PRKR. In particular, we’ll be following the continued intellectual property battle that is going on between the company and QCOM. Nonetheless, as always, we’ll continue to bring you the updates to the news as they break!
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[Image Courtesy of Wikimedia]