U.S. Supreme Court Denies Apple appeal in patent fight with was VirnetX Holding
The wider stock market made significant losses on Monday, but one of the few stocks that made impressive gains yesterday was VirnetX’s stock as VirnetX Holding Corporation (NYSEAMERICAN:VHC) got a boost a From the U.S. Supreme Court. The stock extended its gains this month and soared by as much as 12% on Monday, after a major development.
In a big boost to VirnetX, the United States Supreme Court rejected a petition from tech giant Apple regarding the review of a previous judgment in a case between the two companies. The VirnetX stock has been on a roll in February, and so far, it has gained as much as 47% this month.
The rally in the tech stock yesterday was understandable considering the fact that in the original judgment, VirnetX had been awarded as much as $439.8 million in fees, damages, and interests. Hence, it goes without saying that it is a significant moment for VirnetX. In addition to that, the Chief Executive Officer of the company Kendall Larsen released a statement as well.
VirnetX Gets a boost a From the U.S. Supreme Court
He stated that the company is on the right side of the law in the case against Apple and as many as four juries along with a judge agree. In addition to that, he went on to state that the security feature that is provided by VirnetX Holding Corporation (NYSEAMERICAN:VHC) is crucial for Apple products and “especially” for the iPhone. Considering the fact that VirnetX has a market cap of less than $400 million, the payout could prove to be a big boost for the company.
This 5 Stock is Getting Popular Due to Another Announcement
Another stock that could be worth tracking at this point by investors is that of telecommunications service provider iQSTEL (OTC:IQST). The stock has rallied significantly over the past five sessions and has jumped to $0.33 a share from $.06 a share.
On Monday, the company announced that it completed the acquisition of blockchain solutions firm itsBchain by picking up a stake of 75%. It is an important acquisition and will now allow iQSTEL to provide blockchain solutions to its wide range of clients. Last week, the company announced that its consolidated revenues for January stood at $1.84 million, which is a record for iQSTEL.
It reflects a year on year rise of 32%, after factoring in the growth generated by the company’s 2019 acquisition SwissLink. More importantly, the company also announced that its 5G services subsidiary Etelix generated revenues of $1.45 million in the same month, which represents year on year growth of 4%.
Source: Stock Market Press
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