VirnetX Holding Corp. ($VHC) Stock | Company Wins $625.6 Million In Patent Infringement Case Against Apple

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VirnetX Holding Corporation (NYSE: VHC)

 

 

VirnetX Holding Corporation (VHC), a software and technology solution company yesterday announced they were awarded a $625.6 million verdict against Apple for infringing on four VirnetX patents. The jury found that Apple modified VPN On- Demand, iMessage, and FaceTime services that infringed on VirnetX patents. This is the second time a federal jury awarded VirnetX in an infringement case against Apple.

 

VirnetX Holding Corporation CEO’s Comments

“We are extremely pleased with the jury verdict,” said Kendall Larsen, VirnetX CEO and President.  “The jury agreed once again that Apple has been using the technology developed by our inventors.”  PR Newswire

 

VHC Technical Analysis

VHC Chart

VHC gapped up in price yesterday to $8.85, up from the prior day’s close of $4.79, which is a 85% increase in price. Taking a look at the daily chart we can see that the last time VHC traded above this price level was on September 15th, 2014 when it traded at $14.92. Taking a closer look at the daily chart we can see that VHC has been on a recent upswing dating back to January 11th when it traded at $2.00. VHC has a float of 45.29 million shares and is trading over 18 times the normal daily trading volume. VHC did reach pre market highs of $10.00, but gave back $1.15 at the open, or equivalent to 11.5%. For trading purposes, my entry point would have been $8.90 looking for a run to $10. My stop loss would have been $8.70, fearing anything below that and the stock would start to fill in the gap up.   

 

Company Profile

VirnetX Holding Corporation develops software and technology solutions for securing real-time communications over the Internet. The company’s software and technology solutions include secure domain name registry and GABRIEL Connection Technology that are designed to secure various real-time communications over the Internet, as well as enable organizations and individuals to establish communities of secure, registered users, and transmit information between various devices, networks, and operating systems. These secure network communities are designed to support content applications, such as Instant messaging, voice over Internet protocol, mobile services, streaming video, file transfer, remote desktop, and Mobile-to-Mobile communications in a secure environment. It also provides a portfolio of licenses and services comprising VirnetX technology; GABRIEL Connection Technology software development kit, including object libraries, sample code, testing and quality assurance tools, and supporting documentation required by customers to implement the company’s technology; secure domain name registrar service; registrar server software; connection server software; and relay server software, as well as technical support, and secure domain name master registry and connection services. The company serves developers and original equipment manufacturers of chips, servers, smart phones, tablets, e-Readers, laptops, net books, and other devices in the IP-telephony, mobility, fixed-mobile convergence, and unified communications markets. VirnetX Holding Corporation was incorporated in 2005 and is based in Zephyr Cove, Nevada.  Yahoo Finance

 

 

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