Parker Vision, Inc. (NASDAQ:PRKR) Surges After the Disappointing Court Decision
[[tagnumber 0]]Parker Vision, Inc. (NASDAQ:PRKR) stock is now having an incredible rally a few days after the company announced the denial of its rehearing petition in the trial against Qualcomm, Inc. PRKR could have irrevocably lost the $172.2 million awarded to it under the initial court‘s decision, yet the share price surged and the trading volumes of the stock exploded.[[tagnumber 1]] [[tagnumber 0]][[tagnumber 3]][[tagnumber 1]] [[tagnumber 0]]PRKR closed the last trading session with a 15% gain at $0.299 for a share. The trading volume was much larger than the average and the technical indicators on PRKR chart took a strong bullish position. The stock could gain more today, however, its short selling interest has increased and a drop below the moving averages could follow as soon as the rally is over.[[tagnumber 1]] [[tagnumber 0]]The company‘s latest quarter report shows it has no sales and very little cash on hand. In June, it reduced the staff which would lead to 39% reduction in payrolls, yet the management admits that these cost cuts will not be sufficient and the company cannot survive without raising additional cash through public sale of debt of equity.[[tagnumber 1]] [[tagnumber 0]] [[tagnumber 1]] [[tagnumber 0]]Moreover, PRKR needs funding for the currently running lawsuit against Qualcomm, HTC and Samsung. A previous trial for patent infringement that PRKR filed against Qualcomm in 2011 took an unfavorable [[tagnumber 1]] [[tagnumber 13]][[tagnumber 14]][[tagnumber 1]] [[tagnumber 0]]turn this year. After the initial District Court decision that awarded PRKR $172.2 million in damage, the final ruling said that ten of the eleven patent claims were invalid.[[tagnumber 1]] [[tagnumber 0]] [[tagnumber 1]] [[tagnumber 0]]This month, the company‘s petition for panel rehearing was denied as well, yet PRKR management claims it will struggle to prove that Qualcomm products cannot function without the patented ParkerVision technology. The stock could thus get volatile again on any news on that matter.[[tagnumber 1]] [[tagnumber 13]] [[tagnumber 1]]
